Blair William & Co. IL Raises Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Blair William & Co. IL raised its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 107.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,367 shares of the company’s stock after purchasing an additional 4,327 shares during the period. Blair William & Co. IL’s holdings in Churchill Downs were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. raised its position in Churchill Downs by 13.8% during the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after purchasing an additional 99 shares during the period. Nisa Investment Advisors LLC raised its position in Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares during the period. UMB Bank n.a. raised its position in Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the period. Arizona State Retirement System raised its position in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock valued at $2,592,000 after purchasing an additional 114 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Churchill Downs by 4.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock valued at $356,000 after purchasing an additional 116 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 2.9 %

Shares of NASDAQ:CHDN opened at $133.25 on Wednesday. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $146.64. The stock has a market cap of $9.79 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. The business’s 50 day moving average is $138.23 and its 200 day moving average is $133.19. 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 posted its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 earnings per share. Sell-side analysts predict that Churchill Downs Incorporated will post 6.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHDN. Wells Fargo & Company upped their price objective on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Mizuho upped their target price on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and set a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $156.90.

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; and casino gaming.