United Services Automobile Association Makes New Investment in Churchill Downs, Incorporated $CHDN

Key Points

• United Services Automobile Association purchased a new stake in Churchill Downs, Incorporated, acquiring 4,554 shares valued at approximately $507,000 in the first quarter.
• Several analysts have upgraded their price targets for Churchill Downs, with an average target price of $136.50 and a general consensus rating of "Buy."
• Churchill Downs reported a 4.9% increase in revenue year-over-year, with earnings per share (EPS) of $3.10, surpassing analysts' expectations of $3.03.

United Services Automobile Association bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,554 shares of the company's stock, valued at approximately $507,000.

Several other large investors have also recently bought and sold shares of CHDN. Central Pacific Bank Trust Division grew its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after buying an additional 129 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Churchill Downs by 4.2% during 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 position 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 during the last quarter. Foundations Investment Advisors LLC raised its stake in 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Churchill Downs by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock valued at $556,000 after purchasing an additional 165 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Trading Down 2.5%

Shares of Churchill Downs stock traded down $2.50 on Friday, hitting $96.32. The stock had a trading volume of 480,174 shares, compared to its average volume of 503,362. 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, Incorporated has a one year low of $85.58 and a one year high of $150.21. The stock's 50-day simple moving average is $104.25 and its two-hundred day simple moving average is $102.63. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.85 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced 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. The business had revenue of $934.40 million for the quarter, compared to analyst estimates 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 last year, the firm earned $2.89 EPS. As a group, sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Macquarie increased their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. JMP Securities reduced their target price on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. Stifel Nicolaus raised their price target on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Barclays upped their price objective on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Mizuho increased their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.