New Age Alpha Advisors LLC Has $1.77 Million Stock 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 raised its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 114.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,918 shares of the company's stock after buying an additional 8,508 shares during the period. New Age Alpha Advisors LLC's holdings in Churchill Downs were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Blair William & Co. IL increased its holdings in shares of Churchill Downs by 7.1% during the first quarter. Blair William & Co. IL now owns 4,345 shares of the company's stock worth $483,000 after buying an additional 288 shares in the last quarter. Argent Trust Co increased its holdings in shares of Churchill Downs by 22.0% during the first quarter. Argent Trust Co now owns 5,539 shares of the company's stock worth $615,000 after buying an additional 1,000 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Churchill Downs during the first quarter worth approximately $2,421,000. R Squared Ltd increased its holdings in shares of Churchill Downs by 553.7% during the first quarter. R Squared Ltd now owns 2,680 shares of the company's stock worth $298,000 after buying an additional 2,270 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Churchill Downs during the first quarter worth approximately $1,114,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Down 1.2%

CHDN traded down $1.27 during trading on Friday, reaching $100.90. 617,476 shares of the company's stock were exchanged, compared to its average volume of 689,973. The company's fifty day moving average price is $103.03 and its 200-day moving average price is $106.05. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The firm has a market capitalization of $7.08 billion, a PE ratio of 17.34, a P/E/G ratio of 1.89 and a beta of 0.95.

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

Analyst Ratings Changes

CHDN has been the subject of a number of research reports. Mizuho raised their price target 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. Wall Street Zen raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. JMP Securities lowered their price target on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Truist Financial lowered their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Susquehanna raised their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Churchill Downs currently has an average rating of "Moderate Buy" and an average price target of $138.18.

About Churchill Downs

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.