Stock Yards Bank & Trust Co. Has $36.56 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Stock Yards Bank & Trust Co. increased its stake in Churchill Downs, Incorporated by 43.5%, now owning 361,940 shares worth approximately $36.56 million.
• Several institutional investors also significantly increased their holdings in Churchill Downs, contributing to a total institutional ownership of 82.59% of the company's stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Churchill Downs, with price targets raised by multiple brokerages up to an average of $136.50 per share.

Stock Yards Bank & Trust Co. boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 43.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,940 shares of the company's stock after purchasing an additional 109,787 shares during the period. Churchill Downs comprises about 1.2% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 26th largest holding. Stock Yards Bank & Trust Co. owned about 0.50% of Churchill Downs worth $36,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHDN. Geneos Wealth Management Inc. lifted its stake in Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Elequin Capital LP bought a new position in Churchill Downs in the 1st quarter valued at approximately $29,000. Signaturefd LLC lifted its stake in Churchill Downs by 161.1% in the 2nd quarter. Signaturefd LLC now owns 329 shares of the company's stock valued at $33,000 after purchasing an additional 203 shares during the last quarter. Private Trust Co. NA lifted its stake in Churchill Downs by 154.9% in the 1st quarter. Private Trust Co. NA now owns 543 shares of the company's stock valued at $60,000 after purchasing an additional 330 shares during the last quarter. Finally, State of Wyoming bought a new position in Churchill Downs in the 1st quarter valued at approximately $60,000. Institutional investors own 82.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHDN. 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. 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Churchill Downs in a research note on Saturday, September 27th. Stifel Nicolaus raised their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Mizuho raised their price target 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. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and an average price target of $136.50.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $95.98 on Friday. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The firm has a fifty day simple moving average of $101.11 and a 200 day simple moving average of $101.09. The company has a market capitalization of $6.73 billion, a PE ratio of 16.49, a P/E/G ratio of 1.79 and a beta of 0.83. 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 earnings per share for the quarter, topping analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. During the same quarter last year, the firm earned $2.89 earnings per share. Churchill Downs's quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast 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.

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