Churchill Downs, Incorporated $CHDN Stock Position Raised by Townsquare Capital LLC

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

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Churchill Downs by 28,864.9% in the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock valued at $56,879,000 after buying an additional 510,331 shares during the period. Point72 Asset Management L.P. increased its stake in Churchill Downs by 97.9% in the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock valued at $57,578,000 after purchasing an additional 213,311 shares during the period. Balyasny Asset Management L.P. increased its stake in Churchill Downs by 57.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company's stock valued at $71,185,000 after purchasing an additional 193,677 shares during the period. Assenagon Asset Management S.A. increased its stake in Churchill Downs by 444.9% in the first quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock valued at $20,651,000 after purchasing an additional 151,805 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Churchill Downs during the fourth quarter worth about $16,015,000. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Up 1.0%

CHDN stock traded up $1.03 during trading on Monday, reaching $103.61. The stock had a trading volume of 186,395 shares, compared to its average volume of 723,781. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-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 company has a market capitalization of $7.27 billion, a P/E ratio of 17.80, a PEG ratio of 1.92 and a beta of 0.95. The firm has a fifty day moving average price of $103.74 and a 200 day moving average price of $105.12.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays raised their target price on Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Stifel Nicolaus raised their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Truist Financial decreased their target price on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. 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 report on Wednesday, July 23rd. Finally, Mizuho lifted their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and an average price target of $136.50.

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.