Petrus Trust Company LTA Has $871,000 Stake in Churchill Downs, Incorporated $CHDN

Key Points

• Petrus Trust Company LTA increased its stake in Churchill Downs, Incorporated by 77.3%, acquiring an additional 3,420 shares, bringing their total holdings to 7,845 shares worth approximately $871,000.
• Churchill Downs reported $3.10 EPS for the last quarter, exceeding the analysts' consensus estimate of $3.03, with revenue reaching $934.40 million, up 4.9% year-over-year.
• The company has a consensus rating of "Buy" from ten research analysts, with an average target price of $136.50 for the stock.

Petrus Trust Company LTA raised its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 77.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,845 shares of the company's stock after purchasing an additional 3,420 shares during the quarter. Petrus Trust Company LTA's holdings in Churchill Downs were worth $871,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CHDN. SG Americas Securities LLC boosted its holdings in shares of 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 purchasing an additional 510,331 shares in the last quarter. Millennium Management LLC lifted its stake in Churchill Downs by 107.4% in the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company's stock valued at $60,919,000 after purchasing an additional 284,045 shares during the last quarter. Point72 Asset Management L.P. lifted 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 purchasing an additional 213,311 shares during the last quarter. Nuveen LLC bought a new position in Churchill Downs in the 1st quarter valued at approximately $19,267,000. Finally, Assenagon Asset Management S.A. lifted 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 purchasing an additional 151,805 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHDN. Macquarie increased their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Barclays increased their price objective on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Mizuho increased their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Truist Financial dropped their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Susquehanna increased their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Churchill Downs currently has a consensus rating of "Buy" and a consensus price target of $136.50.

Churchill Downs Trading Down 2.3%

CHDN traded down $2.30 during midday trading on Tuesday, hitting $97.69. 498,373 shares of the company were exchanged, compared to its average volume of 482,718. The firm has a market capitalization of $6.85 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.87 and a beta of 0.86. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The firm's 50 day moving average price is $104.74 and its 200-day moving average price is $103.00. 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 (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.89 earnings per share. As a group, equities analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal 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.