Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,035 shares of the company's stock, valued at approximately $1,258,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Churchill Downs by 29.8% during the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company's stock valued at $373,000 after acquiring an additional 784 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock worth $53,675,000 after purchasing an additional 121,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Churchill Downs by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company's stock valued at $25,080,000 after acquiring an additional 15,161 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock worth $28,000 after acquiring an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Churchill Downs in the second quarter worth about $229,000. Institutional investors own 82.59% of the company's stock.
Churchill Downs Price Performance
Churchill Downs stock opened at $89.90 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. Churchill Downs, Incorporated has a 12-month low of $79.40 and a 12-month high of $118.35. The company has a fifty day simple moving average of $87.24 and a 200-day simple moving average of $88.64. The stock has a market cap of $6.27 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.68.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting the consensus estimate of $3.45. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.10 EPS. Equities analysts expect that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have issued reports on CHDN shares. Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Susquehanna boosted their price objective on shares of Churchill Downs from $121.00 to $124.00 and gave the company a "positive" rating in a report on Friday, July 31st. Mizuho boosted their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Citigroup reiterated an "outperform" rating on shares of Churchill Downs in a research report on Friday, July 31st. Finally, Citizens Jmp dropped their price objective on shares of Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $136.88.
View Our Latest Stock Report on CHDN
About Churchill Downs
(
Free Report)
Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.
In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.
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