Westfield Capital Management Co. LP Raises Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Westfield Capital Management Co. LP grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 26.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 376,252 shares of the company’s stock after buying an additional 79,227 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.50% of Churchill Downs worth $50,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. M&T Bank Corp lifted its holdings in Churchill Downs by 5.2% in the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after buying an additional 118 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Churchill Downs by 4.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 2,575 shares of the company’s stock worth $327,000 after buying an additional 121 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Churchill Downs by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 32,082 shares of the company’s stock worth $3,723,000 after buying an additional 130 shares during the period. Argent Trust Co raised its position in shares of Churchill Downs by 5.1% in the 3rd quarter. Argent Trust Co now owns 3,138 shares of the company’s stock worth $364,000 after acquiring an additional 152 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CHDN shares. Truist Financial increased their target price on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their target price 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 issued a $156.00 target price on shares of Churchill Downs in a research report on Monday, May 6th. Finally, Mizuho increased their target price on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Insider Transactions at Churchill Downs

In other news, Director Paul C. Varga purchased 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the purchase, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.13% of the company’s stock.

Churchill Downs Stock Down 1.2 %

CHDN stock traded down $1.61 on Friday, reaching $132.99. 285,766 shares of the company traded hands, compared to its average volume of 527,600. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $142.90. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $9.78 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 3.75 and a beta of 0.99. The firm has a fifty day simple moving average of $127.02 and a 200-day simple moving average of $123.98.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Research analysts anticipate that Churchill Downs Incorporated will post 5.83 earnings per share for the current 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.