FORA Capital LLC Acquires New Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• FORA Capital LLC has acquired a new stake in Churchill Downs, Incorporated, purchasing 3,359 shares valued at approximately $373,000.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, exceeding analyst estimates and representing a 4.9% revenue increase compared to the previous year.
• The stock is down 3.1%, with current trading at around $102.86, while analysts have set a consensus target price of $136.50 for the stock.

FORA Capital LLC purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,359 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Utah Retirement Systems grew its position in shares of Churchill Downs by 2.7% in the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after buying an additional 100 shares during the period. Central Pacific Bank Trust Division increased its position in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after purchasing an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Churchill Downs by 4.2% in the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after purchasing an additional 130 shares during the last quarter. Foundations Investment Advisors LLC increased its position in Churchill Downs by 0.3% in the first 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Churchill Downs by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock valued at $556,000 after acquiring an additional 165 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHDN. Mizuho boosted their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Susquehanna increased their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target on the stock. Finally, Macquarie upped their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $136.50.

Churchill Downs Trading Up 0.8%

Shares of NASDAQ CHDN traded up $0.87 during trading on Friday, hitting $103.73. 506,509 shares of the company were exchanged, compared to its average volume of 504,856. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The company has a fifty day moving average price of $104.68 and a 200-day moving average price of $103.80. The firm has a market capitalization of $7.27 billion, a PE ratio of 17.82, a P/E/G ratio of 1.94 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million for the quarter, compared to analyst estimates of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 EPS. As a group, equities research 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.