Wealth Preservation Advisors LLC Invests $453,000 in Churchill Downs, Incorporated $CHDN

Key Points

• Wealth Preservation Advisors LLC has made a new investment of $453,000 in Churchill Downs, acquiring 4,080 shares of its stock.
• A number of hedge funds have increased their stakes in Churchill Downs, with 82.59% of the stock now owned by institutional investors.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, exceeding analysts' estimates, with revenue of $934.40 million, up 4.9% year-over-year.

Wealth Preservation Advisors LLC acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,080 shares of the company's stock, valued at approximately $453,000.

A number of other large investors have also recently bought and sold shares of the business. Aristides Capital LLC grew its stake in shares of Churchill Downs by 5.7% in the 1st quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock valued at $273,000 after buying an additional 132 shares during the period. FORA Capital LLC acquired a new stake in shares of Churchill Downs in the 1st quarter valued at about $373,000. Soros Capital Management LLC grew its stake in shares of Churchill Downs by 34.8% in the 1st quarter. Soros Capital Management LLC now owns 9,330 shares of the company's stock valued at $1,036,000 after buying an additional 2,409 shares during the period. Synovus Financial Corp grew its stake in shares of Churchill Downs by 19.8% in the 1st quarter. Synovus Financial Corp now owns 13,745 shares of the company's stock valued at $1,527,000 after buying an additional 2,272 shares during the period. Finally, Systematic Financial Management LP grew its stake in shares of Churchill Downs by 2.1% in the 1st quarter. Systematic Financial Management LP now owns 180,846 shares of the company's stock valued at $20,087,000 after buying an additional 3,653 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHDN has been the topic of several recent research reports. Susquehanna raised their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Barclays raised their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Truist Financial dropped their price target 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. 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 report on Tuesday, July 22nd. Finally, Macquarie boosted their target price on Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $136.50.

Churchill Downs Stock Performance

Churchill Downs stock traded up $0.87 during trading on Friday, hitting $103.73. The stock had a trading volume of 506,509 shares, compared to its average volume of 507,358. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. 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 stock's 50 day moving average is $104.68 and its two-hundred day moving average is $103.93. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $924.36 million. During the same quarter in the previous year, the firm posted $2.89 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

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.