Townsquare Capital LLC Boosts Stock Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Townsquare Capital LLC raised its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,356 shares of the company's stock after purchasing an additional 3,319 shares during the quarter. Townsquare Capital LLC's holdings in Churchill Downs were worth $1,483,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CHDN. Deutsche Bank AG lifted its holdings in shares of Churchill Downs by 21.6% in the 1st quarter. Deutsche Bank AG now owns 8,149 shares of the company's stock valued at $905,000 after buying an additional 1,445 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Churchill Downs by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock worth $68,359,000 after buying an additional 10,108 shares in the last quarter. New Age Alpha Advisors LLC increased its stake in Churchill Downs by 114.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 15,918 shares of the company's stock worth $1,768,000 after buying an additional 8,508 shares in the last quarter. Blair William & Co. IL increased its stake in Churchill Downs by 7.1% during the 1st quarter. Blair William & Co. IL now owns 4,345 shares of the company's stock worth $483,000 after buying an additional 288 shares in the last quarter. Finally, Argent Trust Co grew its position in shares of Churchill Downs by 22.0% in the first quarter. Argent Trust Co now owns 5,539 shares of the company's stock valued at $615,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $103.57 on Thursday. The stock's 50-day moving average is $103.50 and its two-hundred day moving average is $105.71. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.91 and a beta of 0.95. 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 quick ratio of 0.60 and a current ratio of 0.60.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $924.36 million. During the same quarter last year, the company posted $2.89 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. Analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CHDN shares. JMP Securities dropped their price target on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th. Jefferies Financial Group decreased their price target on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Truist Financial reduced their price objective 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. Finally, Mizuho raised their price target on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $136.50.

Churchill Downs Company 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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