Commonwealth Equity Services LLC Has $308,000 Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Commonwealth Equity Services LLC raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 7.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,204 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Churchill Downs were worth $308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. grew its stake in Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after purchasing an additional 246,769 shares during the period. Assenagon Asset Management S.A. grew its holdings in Churchill Downs by 10,126.1% in the 2nd 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 last quarter. Sequoia Financial Advisors LLC bought a new position in Churchill Downs during the 2nd quarter valued at approximately $26,384,000. Capital International Investors raised its holdings in Churchill Downs by 7.5% in the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its stake in shares of Churchill Downs by 60.1% in the 2nd quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock valued at $48,452,000 after purchasing an additional 130,331 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 0.4 %

CHDN opened at $137.18 on Tuesday. 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 company has a market capitalization of $10.08 billion, a PE ratio of 30.55, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $146.64. The firm’s 50 day simple moving average is $138.45 and its two-hundred day simple moving average is $133.04.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (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 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 for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.24 earnings per share. As a group, equities analysts forecast that Churchill Downs Incorporated will post 6.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Macquarie raised their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, Mizuho increased their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. One 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.90.

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; and casino gaming.