Jefferies Financial Group Inc. Purchases New Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Key Points

• Jefferies Financial Group Inc. has acquired a new position of 10,030 shares in Churchill Downs, Incorporated, valued at approximately $1,114,000, as reported in their Form 13F filing.
• In recent weeks, multiple institutional investors have significantly increased their stakes in Churchill Downs, with 82.59% of the stock now owned by institutional holders.
• Current analysts' ratings indicate a consensus of "Moderate Buy" for CHDN, with a price target averaging $138.18, despite the stock's recent drop of 1.0% to $103.44.

Jefferies Financial Group Inc. acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,030 shares of the company's stock, valued at approximately $1,114,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHDN. LPL Financial LLC grew its holdings in Churchill Downs by 107.8% during the fourth quarter. LPL Financial LLC now owns 40,356 shares of the company's stock worth $5,389,000 after buying an additional 20,938 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Churchill Downs by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 212,663 shares of the company's stock worth $28,399,000 after buying an additional 29,069 shares in the last quarter. Geode Capital Management LLC grew its holdings in Churchill Downs by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company's stock worth $174,917,000 after buying an additional 10,018 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Churchill Downs by 2.7% during the fourth quarter. Wells Fargo & Company MN now owns 114,935 shares of the company's stock worth $15,348,000 after buying an additional 3,040 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Churchill Downs by 126.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 4,670 shares of the company's stock worth $623,000 after buying an additional 2,604 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ:CHDN traded down $1.13 during trading hours on Wednesday, hitting $102.31. 401,428 shares of the company's stock traded hands, compared to its average volume of 739,861. The firm has a market cap of $7.17 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.95 and a beta of 0.95. 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 business's fifty day simple moving average is $102.62 and its two-hundred day simple moving average is $106.56. 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 data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The company had revenue of $934.40 million during the quarter, compared to analyst estimates of $924.36 million. During the same quarter in the previous year, the firm earned $2.89 earnings per share. Churchill Downs's revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays upped their price target on 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. began coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective for the company. Truist Financial reduced their price objective on Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Jefferies Financial Group reduced their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Susquehanna upped their price objective on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus target price of $138.18.

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.