Savant Capital LLC Acquires New Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Savant Capital LLC bought a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,688 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors also recently modified their holdings of CHDN. GAMMA Investing LLC bought a new stake in Churchill Downs during the 4th quarter worth approximately $66,000. Covestor Ltd increased its holdings in Churchill Downs by 44.0% in the third quarter. Covestor Ltd now owns 848 shares of the company’s stock valued at $98,000 after purchasing an additional 259 shares during the period. Fifth Third Bancorp raised its position in Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares during the last quarter. Mission Wealth Management LP acquired a new position in Churchill Downs during the 4th quarter worth about $208,000. Finally, Consolidated Planning Corp bought a new stake in shares of Churchill Downs in the 4th quarter valued at about $209,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Churchill Downs

In related news, Director Paul C. Varga acquired 3,800 shares of the stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $130.22 per share, with a total value of $494,836.00. Following the completion of the purchase, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 5.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Truist Financial boosted their price target on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. JMP Securities reissued a “market outperform” rating and set a $156.00 target price on shares of Churchill Downs in a research note on Monday. Finally, Mizuho increased their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Churchill Downs Trading Up 1.6 %

Shares of Churchill Downs stock opened at $138.08 on Wednesday. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $148.36. The stock has a 50 day moving average price of $121.85 and a two-hundred day moving average price of $121.92. The stock has a market capitalization of $10.15 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.81 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. During the same quarter in the previous year, the business posted $0.98 EPS. Churchill Downs’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.72 earnings per share for the current fiscal year.

Churchill Downs 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.