Cwm LLC Has $1.30 Million Position in Churchill Downs, Incorporated $CHDN

Key Points

• Cwm LLC significantly increased its stake in Churchill Downs, Incorporated by 2,569.9% in Q2, owning 12,869 shares valued at approximately $1.30 million.
• Multiple institutional investors have also increased their holdings in Churchill Downs, leading to a current institutional ownership of 82.59%.
• Churchill Downs reported a Q2 earnings per share (EPS) of $3.10, surpassing forecasts and reflecting a year-over-year revenue increase of 4.9%.

Cwm LLC lifted its position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 2,569.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,869 shares of the company's stock after buying an additional 12,387 shares during the period. Cwm LLC's holdings in Churchill Downs were worth $1,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JLB & Associates Inc. lifted its stake in Churchill Downs by 3.8% in the second quarter. JLB & Associates Inc. now owns 2,867 shares of the company's stock valued at $290,000 after buying an additional 105 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Churchill Downs by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after acquiring an additional 130 shares during the period. Aristides Capital LLC lifted its position in Churchill Downs by 5.7% in the 1st quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock valued at $273,000 after acquiring an additional 132 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Churchill Downs by 0.3% in the 1st quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock worth $4,925,000 after purchasing an additional 138 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Churchill Downs by 2.8% during the 1st quarter. Bessemer Group Inc. now owns 6,348 shares of the company's stock worth $705,000 after purchasing an additional 175 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHDN. Macquarie upped their price target on Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Barclays increased their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. lowered their price target on shares of Churchill Downs from $130.00 to $128.00 and set an "overweight" rating on the stock in a research note on Thursday, October 16th. Truist Financial reduced their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Churchill Downs in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.70.

Churchill Downs Stock Up 5.7%

Churchill Downs stock opened at $95.68 on Tuesday. The company's 50-day moving average price is $97.82 and its two-hundred day moving average price is $99.35. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The stock has a market cap of $6.71 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.69 and a beta of 0.83. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm had revenue of $934.40 million for the quarter, compared to analyst estimates of $924.36 million. During the same period in the prior year, the firm posted $2.89 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Profile

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.

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