Raymond James & Associates Acquires 32,225 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Raymond James & Associates raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 66.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 80,756 shares of the company’s stock after acquiring an additional 32,225 shares during the period. Raymond James & Associates’ holdings in Churchill Downs were worth $11,274,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CHDN. GAMMA Investing LLC acquired a new stake in shares of Churchill Downs in the 4th quarter valued at approximately $66,000. Yousif Capital Management LLC raised its holdings in Churchill Downs by 1.8% in the fourth quarter. Yousif Capital Management LLC now owns 21,351 shares of the company’s stock worth $2,881,000 after purchasing an additional 375 shares during the period. Consolidated Planning Corp bought a new position in shares of Churchill Downs during the fourth quarter worth $209,000. Sargent Investment Group LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $266,000. Finally, Retirement Systems of Alabama increased its position in shares of Churchill Downs by 22.9% in the 4th quarter. Retirement Systems of Alabama now owns 160,849 shares of the company’s stock valued at $21,703,000 after buying an additional 29,979 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $138.24 on Friday. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64. The company’s fifty day simple moving average is $138.74 and its 200-day simple moving average is $130.08. The firm has a market cap of $10.16 billion, a PE ratio of 30.79, a P/E/G ratio of 2.34 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.24 EPS. Equities research analysts expect that Churchill Downs Incorporated will post 6.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CHDN. JMP Securities lifted their target price on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $156.90.

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; and casino gaming.