11,892 Shares in Churchill Downs, Incorporated $CHDN Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has acquired 11,892 shares of Churchill Downs, Incorporated, valued at approximately $1,315,000, in the first quarter of 2023.
• Churchill Downs has seen a significant amount of interest from institutional investors, with 82.59% of its stock owned by hedge funds and other institutional investors.
• Analysts have given Churchill Downs an average rating of "Buy" with a target price of $136.50, indicating strong confidence in the company's future performance.

Hsbc Holdings PLC purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,892 shares of the company's stock, valued at approximately $1,315,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. Elequin Capital LP acquired a new position in shares of Churchill Downs during the 1st quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock valued at $46,000 after buying an additional 253 shares during the period. Central Pacific Bank Trust Division grew 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 acquiring an additional 129 shares during the period. Private Trust Co. NA increased its stake in Churchill Downs by 154.9% during the first quarter. Private Trust Co. NA now owns 543 shares of the company's stock worth $60,000 after acquiring an additional 330 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Churchill Downs by 181.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock valued at $62,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Up 0.8%

NASDAQ:CHDN traded up $0.87 on Friday, reaching $103.73. 506,509 shares of the company's stock were exchanged, compared to its average volume of 504,856. 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 firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86. The business has a fifty day moving average of $104.68 and a 200-day moving average of $103.80. Churchill Downs, Incorporated has a 52-week low of $85.58 and a 52-week high of $150.21.

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

Analyst Ratings Changes

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

Churchill Downs Company 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.