Cetera Trust Company N.A Acquires New Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Cetera Trust Company N.A purchased a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,617 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC increased its position in Churchill Downs by 181.3% during the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after purchasing an additional 145 shares during the period. Castleview Partners LLC bought a new position in shares of Churchill Downs in the 2nd quarter worth about $38,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Churchill Downs by 174.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after buying an additional 180 shares in the last quarter. Ossiam increased its stake in shares of Churchill Downs by 5,012.5% in the 1st quarter. Ossiam now owns 409 shares of the company’s stock valued at $105,000 after acquiring an additional 401 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Churchill Downs by 28.9% during the 2nd quarter. Harbour Investments Inc. now owns 459 shares of the company’s stock valued at $64,000 after acquiring an additional 103 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $118.96 on Monday. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The business has a 50 day moving average price of $119.49 and a 200-day moving average price of $120.41. The company has a market cap of $8.77 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 8.29 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.18. The business had revenue of $561.20 million during the quarter, compared to the consensus estimate of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. Equities analysts anticipate that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CHDN shares. Mizuho assumed coverage on shares of Churchill Downs in a research note on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus target price of $143.13.

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.