2,063 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Acquired by Net Worth Advisory Group

Net Worth Advisory Group purchased a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,063 shares of the company’s stock, valued at approximately $279,000.

Several other hedge funds have also added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new stake in shares of Churchill Downs during the 2nd quarter worth about $125,418,000. Assenagon Asset Management S.A. boosted its holdings in shares of Churchill Downs by 10,126.1% during the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Churchill Downs in the second quarter valued at approximately $26,384,000. Capital International Investors grew its position in shares of Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in shares of Churchill Downs by 60.1% during the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock worth $48,452,000 after purchasing an additional 130,331 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $138.01 on Monday. The firm has a 50 day moving average of $137.79 and a 200-day moving average of $135.41. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. The stock has a market capitalization of $10.14 billion, a PE ratio of 30.74, a PEG ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.71 by $0.18. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate 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 was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. On average, equities research analysts predict that Churchill Downs Incorporated will post 6.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CHDN shares. Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $155.00 in a report on Monday, August 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.75.

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; casino gaming; and Terre Haute Casino Resort.