Glenview Trust Co Takes Position in Churchill Downs, Incorporated $CHDN

Key Points

• Glenview Trust Co. acquired 197,613 shares of Churchill Downs in the second quarter, valued at approximately $17.7 million and representing about 0.28% of the company. Institutional investors and hedge funds collectively own 82.59% of CHDN.
• Analysts maintain a generally positive outlook, with nine Buy ratings and one Sell rating. Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $136.88.
• Churchill Downs reported quarterly EPS of $3.45, matching estimates, while revenue rose 4.9% year over year to $980 million. Shares opened at $86.51, well below their 52-week high of $118.35.

Glenview Trust Co bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 197,613 shares of the company's stock, valued at approximately $17,714,000. Glenview Trust Co owned approximately 0.28% of Churchill Downs at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in Churchill Downs in the third quarter valued at $25,000. Geneos Wealth Management Inc. increased its stake 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 purchasing an additional 232 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Churchill Downs during the 2nd quarter worth about $29,000. Parkside Financial Bank & Trust raised its holdings in shares of Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company's stock valued at $29,000 after purchasing an additional 191 shares during the period. Finally, Root Financial Partners LLC raised its holdings in shares of Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company's stock valued at $30,000 after purchasing an additional 305 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna lifted their price target on Churchill Downs from $121.00 to $124.00 and gave the stock a "positive" rating in a report on Friday, July 31st. Mizuho upped their price objective on Churchill Downs from $155.00 to $157.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Churchill Downs in a research report on Friday, July 31st. Wells Fargo & Company reduced their target price on Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Finally, Citizens Jmp decreased their target price on Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating on the stock in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $136.88.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $86.51 on Friday. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.83 and a beta of 0.68. The company has a 50-day simple moving average of $87.21 and a 200 day simple moving average of $88.67. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36.

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 (EPS) for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same period last year, the business posted $3.10 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Churchill Downs Company Profile

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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