Resolute Capital Asset Partners LLC Invests $2.22 Million in Churchill Downs, Incorporated $CHDN

Key Points

• Resolute Capital Asset Partners LLC has invested approximately $2.22 million in 20,000 shares of Churchill Downs, making it the firm's 27th largest holding.
• Several institutional investors, including Mariner LLC and Dimensional Fund Advisors LP, have increased their positions in Churchill Downs, with 82.59% of the stock owned by institutional investors.
• Churchill Downs reported $3.10 EPS in its latest quarterly earnings, surpassing analysts' expectations, and saw its revenue grow by 4.9% year-over-year.

Resolute Capital Asset Partners LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company's stock, valued at approximately $2,221,000. Churchill Downs accounts for approximately 1.3% of Resolute Capital Asset Partners LLC's holdings, making the stock its 27th biggest holding.

Several other large investors also recently modified their holdings of CHDN. Mariner LLC increased its position in shares of Churchill Downs by 11.1% during the fourth quarter. Mariner LLC now owns 7,591 shares of the company's stock worth $1,014,000 after buying an additional 759 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Churchill Downs by 15.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 509,743 shares of the company's stock worth $68,075,000 after buying an additional 66,731 shares during the period. MML Investors Services LLC grew its holdings in Churchill Downs by 6.4% in the fourth quarter. MML Investors Services LLC now owns 29,281 shares of the company's stock worth $3,910,000 after purchasing an additional 1,771 shares during the period. OneDigital Investment Advisors LLC increased its stake in Churchill Downs by 20.6% in the fourth quarter. OneDigital Investment Advisors LLC now owns 3,107 shares of the company's stock valued at $415,000 after purchasing an additional 531 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Churchill Downs by 0.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 493,044 shares of the company's stock valued at $65,842,000 after purchasing an additional 3,388 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHDN. Jefferies Financial Group decreased their price target on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Susquehanna lifted their price target 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. Barclays lifted their price target 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. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target for the company. Finally, Macquarie lifted their price target 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. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $136.50.

Churchill Downs Stock Up 1.5%

Shares of NASDAQ CHDN opened at $104.04 on Friday. The stock has a market capitalization of $7.30 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.92 and a beta of 0.95. The company has a 50-day moving average price of $104.12 and a 200-day moving average price of $104.67. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.03 by $0.07. The firm had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business's revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. On average, equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs 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.

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