Price T Rowe Associates Inc. MD Has $51.79 Million Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Churchill Downs, Incorporated by 5.4% in the first quarter, now owning approximately 0.65% of the company valued at $51.79 million.
• Churchill Downs reported earnings per share (EPS) of $3.10 for the last quarter, exceeding analysts' expectations of $3.03, along with a revenue of $934.4 million.
• Analysts have varying ratings on Churchill Downs, with the stock having an average rating of "Buy" and a consensus target price of $136.50.

Price T Rowe Associates Inc. MD lessened its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,265 shares of the company's stock after selling 26,779 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.65% of Churchill Downs worth $51,789,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Churchill Downs in the first quarter worth $29,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after purchasing an additional 253 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of 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 purchasing an additional 129 shares in the last quarter. Private Trust Co. NA raised its position 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Churchill Downs by 181.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock worth $62,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Mizuho upped their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price target on the stock. Susquehanna upped their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial dropped their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $136.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded up $0.87 on Friday, hitting $103.73. The company had a trading volume of 506,509 shares, compared to its average volume of 507,358. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.94 and a beta of 0.95. The stock has a 50 day moving average price of $104.68 and a 200 day moving average price of $103.93. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $924.36 million. During the same period in the previous year, the company earned $2.89 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

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.