Raymond James Financial Inc. Has $14.17 Million Stock Position in Churchill Downs, Incorporated $CHDN

Key Points

• Raymond James Financial Inc. has increased its stake in Churchill Downs, Incorporated by 6.3%, acquiring an additional 7,606 shares during the first quarter, bringing its total holdings to 127,526 shares worth approximately $14.16 million.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, exceeding estimates by $0.07, along with a revenue increase of 4.9% year-over-year.
• Analysts have shown confidence in Churchill Downs, with multiple firms raising their price targets, resulting in an average target price of $136.50 and a consensus "Buy" rating from ten different analysts.

Raymond James Financial Inc. boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,526 shares of the company's stock after purchasing an additional 7,606 shares during the period. Raymond James Financial Inc. owned 0.18% of Churchill Downs worth $14,165,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Utah Retirement Systems increased its stake in shares of Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after purchasing an additional 100 shares during the period. Central Pacific Bank Trust Division increased its stake 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 during the period. OneDigital Investment Advisors LLC increased its stake in Churchill Downs by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock valued at $360,000 after acquiring an additional 130 shares during the period. Foundations Investment Advisors LLC increased its stake in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock valued at $4,925,000 after acquiring an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Churchill Downs by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock valued at $556,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ CHDN traded down $1.47 during trading hours on Tuesday, reaching $102.26. 189,352 shares of the company's stock were exchanged, compared to its average volume of 712,903. The firm has a fifty day moving average of $104.76 and a 200-day moving average of $103.67. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The stock has a market cap of $7.17 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (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 firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter in the prior year, the business earned $2.89 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CHDN shares. Truist Financial lowered their price target on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Mizuho upped their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. 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. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective on the stock. Finally, JMP Securities lowered their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $136.50.

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.