Royal Bank of Canada Purchases 9,521 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• The Royal Bank of Canada has increased its stake in Churchill Downs, Incorporated by 9.2%, owning approximately 0.16% of the company worth $12.54 million following the purchase of additional shares.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, exceeding estimates by $0.07, with a revenue of $934.4 million, up 4.9% from the previous year.
• Several analysts have set new price targets for Churchill Downs, with a consensus rating of "Buy" and an average price target of $136.50.

Royal Bank of Canada raised its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,923 shares of the company's stock after acquiring an additional 9,521 shares during the period. Royal Bank of Canada owned about 0.16% of Churchill Downs worth $12,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CHDN. Central Pacific Bank Trust Division increased its holdings in Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Churchill Downs by 4.2% in the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after purchasing an additional 130 shares in the last quarter. Aristides Capital LLC increased its stake in shares of Churchill Downs by 5.7% in the first quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock worth $273,000 after purchasing an additional 132 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Churchill Downs by 0.3% in the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock valued at $4,925,000 after purchasing an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Churchill Downs by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock valued at $556,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ:CHDN traded up $0.09 during trading hours on Tuesday, hitting $96.07. 523,892 shares of the company's stock traded hands, compared to its average volume of 487,645. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The business's fifty day simple moving average is $103.93 and its two-hundred day simple moving average is $102.33. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a market cap of $6.74 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.79 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.07. The firm 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 company's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 EPS. On average, research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CHDN shares. Barclays lifted 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. Macquarie boosted their price objective on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. JMP Securities dropped their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th. Mizuho lifted their target price on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Susquehanna upped their price target on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus 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.