State of Alaska Department of Revenue Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

State of Alaska Department of Revenue grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) by 222.4% during the second quarter, HoldingsChannel reports. The firm owned 15,624 shares of the company’s stock after buying an additional 10,778 shares during the period. State of Alaska Department of Revenue’s holdings in Churchill Downs were worth $2,992,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CHDN. Bank of Montreal Can increased its stake in shares of Churchill Downs by 2,212.9% in the first quarter. Bank of Montreal Can now owns 90,898 shares of the company’s stock worth $20,739,000 after buying an additional 86,968 shares during the last quarter. BlackRock Inc. increased its stake in shares of Churchill Downs by 2.2% in the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after buying an additional 73,505 shares during the last quarter. UBS Group AG increased its stake in shares of Churchill Downs by 239.2% in the first quarter. UBS Group AG now owns 84,644 shares of the company’s stock worth $18,772,000 after buying an additional 59,690 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Churchill Downs in the first quarter worth $204,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Churchill Downs by 37.9% in the first quarter. Goldman Sachs Group Inc. now owns 155,591 shares of the company’s stock worth $34,507,000 after buying an additional 42,791 shares during the last quarter. Hedge funds and other institutional investors own 71.98% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of research analyst reports. KeyCorp set a $280.00 price target on shares of Churchill Downs in a research note on Tuesday, July 19th. Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $270.00 to $255.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.00.

Churchill Downs Stock Performance

Shares of CHDN opened at $184.10 on Friday. Churchill Downs Incorporated has a 1 year low of $172.75 and a 1 year high of $262.20. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 5.23, a quick ratio of 3.79 and a current ratio of 3.79. The firm has a fifty day moving average of $207.11 and a 200-day moving average of $204.87.

Churchill Downs (NASDAQ:CHDNGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.09). Churchill Downs had a net margin of 28.52% and a return on equity of 78.89%. The firm had revenue of $582.50 million for the quarter, compared to analyst estimates of $592.06 million. During the same period last year, the firm posted $3.08 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 7.59 earnings per share for the current year.

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.

See Also

Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs Incorporated (NASDAQ:CHDNGet Rating).

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

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