New Age Alpha Advisors LLC Raises Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Key Points

• New Age Alpha Advisors LLC increased its holdings in Churchill Downs, Incorporated by 114.8% during the first quarter, bringing its total investment to approximately $1.77 million.
• Churchill Downs recently reported $3.10 earnings per share for the latest quarter, exceeding analysts' expectations, with a revenue of $934.40 million.
• Despite some analysts lowering price targets, the stock has a consensus rating of "Moderate Buy" with an average target price of $138.18.

New Age Alpha Advisors LLC lifted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 114.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,918 shares of the company's stock after purchasing an additional 8,508 shares during the quarter. New Age Alpha Advisors LLC's holdings in Churchill Downs were worth $1,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHDN. SG Americas Securities LLC lifted its stake in Churchill Downs by 28,864.9% in the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock valued at $56,879,000 after acquiring an additional 510,331 shares in the last quarter. FMR LLC raised its stake in Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after acquiring an additional 214,694 shares during the period. Point72 Asset Management L.P. raised its stake in Churchill Downs by 97.9% in the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock valued at $57,578,000 after acquiring an additional 213,311 shares during the period. Balyasny Asset Management L.P. raised its stake in Churchill Downs by 57.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company's stock valued at $71,185,000 after acquiring an additional 193,677 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Churchill Downs by 444.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock valued at $20,651,000 after acquiring an additional 151,805 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on CHDN shares. Jefferies Financial Group decreased their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial reduced their target price on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Macquarie increased their target price on Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Stifel Nicolaus increased their target price on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. initiated coverage on Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.18.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded up $1.36 during midday trading on Tuesday, reaching $101.77. 72,636 shares of the company traded hands, compared to its average volume of 730,797. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $150.21. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The firm's fifty day moving average price is $103.19 and its two-hundred day moving average price is $105.75.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its 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. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The business had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. During the same period in the previous year, the business earned $2.89 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

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.