Steward Partners Investment Advisory LLC Acquires Shares of 583 Churchill Downs Incorporated (NASDAQ:CHDN)

Steward Partners Investment Advisory LLC bought a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 583 shares of the company’s stock, valued at approximately $129,000.

Other large investors have also made changes to their positions in the company. National Bank of Canada FI purchased a new stake in Churchill Downs in the 4th quarter valued at $26,000. CWM LLC acquired a new stake in Churchill Downs during the fourth quarter worth about $28,000. Sageworth Trust Co of South Dakota acquired a new position in Churchill Downs in the 4th quarter valued at about $43,000. Covestor Ltd acquired a new position in Churchill Downs in the 4th quarter valued at about $62,000. Finally, Ellevest Inc. grew its stake in shares of Churchill Downs by 39.3% in the 1st quarter. Ellevest Inc. now owns 287 shares of the company’s stock valued at $64,000 after buying an additional 81 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 0.1 %

NASDAQ:CHDN opened at $209.55 on Tuesday. The stock has a fifty day moving average price of $199.29 and a 200 day moving average price of $207.84. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 5.23. The firm has a market cap of $7.97 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.42 and a beta of 1.11. Churchill Downs Incorporated has a 12-month low of $172.75 and a 12-month high of $262.20.

Churchill Downs (NASDAQ:CHDNGet Rating) last released its earnings results on Wednesday, July 27th. The company reported $3.90 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.09). Churchill Downs had a return on equity of 78.89% and a net margin of 28.52%. The firm had revenue of $582.50 million for the quarter, compared to analysts’ expectations of $592.06 million. During the same quarter in the previous year, the company posted $3.08 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that Churchill Downs Incorporated will post 8.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHDN. Wells Fargo & Company decreased their price objective on Churchill Downs from $270.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. KeyCorp set a $280.00 price target on Churchill Downs in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $273.00.

About Churchill Downs

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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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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