Community Trust & Investment Co. Has $20.56 Million Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Community Trust & Investment Co. boosted its stock holdings in Churchill Downs, Incorporated by 24.3% during Q2, owning a total of 203,547 shares now valued at approximately $20.56 million.
• Churchill Downs reported an earnings per share (EPS) of $3.10 for its latest quarter, exceeding analysts' expectations of $3.03, while revenue increased 4.9% year-over-year.
• Equities analysts have a consensus "Buy" rating for Churchill Downs, with an average price target of $136.50, as several firms have recently adjusted their price targets upward.

Community Trust & Investment Co. lifted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 24.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,547 shares of the company's stock after buying an additional 39,824 shares during the period. Churchill Downs comprises approximately 1.2% of Community Trust & Investment Co.'s portfolio, making the stock its 23rd biggest position. Community Trust & Investment Co. owned about 0.28% of Churchill Downs worth $20,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CHDN. SG Americas Securities LLC boosted its position in shares of Churchill Downs by 28,864.9% in the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after buying an additional 510,331 shares during the period. Millennium Management LLC raised its holdings in shares of Churchill Downs by 107.4% during the first quarter. Millennium Management LLC now owns 548,476 shares of the company's stock worth $60,919,000 after acquiring an additional 284,045 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Churchill Downs during the first quarter worth $19,267,000. Assenagon Asset Management S.A. raised its holdings in shares of Churchill Downs by 444.9% during the first quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock worth $20,651,000 after acquiring an additional 151,805 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Churchill Downs by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock worth $53,675,000 after acquiring an additional 121,204 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Ratings Changes

CHDN has been the subject of several recent research reports. JMP Securities cut their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Stifel Nicolaus increased their price objective on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. started coverage on Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price objective for the company. Mizuho raised their target price on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Susquehanna raised their target price on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Churchill Downs has an average rating of "Buy" and an average target price of $136.50.

Churchill Downs Trading Up 0.6%

Shares of CHDN stock traded up $0.53 on Monday, reaching $95.83. 607,655 shares of the stock were exchanged, compared to its average volume of 585,489. The stock has a market cap of $6.72 billion, a PE ratio of 16.47, a P/E/G ratio of 1.78 and a beta of 0.86. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50 day moving average price of $103.10 and a 200 day moving average price of $101.76.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.03 by $0.07. The company had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.89 earnings per share. Equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.