Capital International Sarl Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Capital International Sarl increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 48.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,568 shares of the company’s stock after purchasing an additional 5,099 shares during the period. Capital International Sarl’s holdings in Churchill Downs were worth $1,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Churchill Downs during the fourth quarter valued at approximately $39,000. Central Pacific Bank Trust Division purchased a new position in shares of Churchill Downs during the first quarter valued at approximately $44,000. Vestor Capital LLC purchased a new position in shares of Churchill Downs during the fourth quarter valued at approximately $45,000. Finally, GAMMA Investing LLC purchased a new position in shares of Churchill Downs during the fourth quarter valued at approximately $66,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHDN has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Mizuho boosted their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday. Macquarie boosted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Truist Financial restated a “buy” rating and set a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research report on Friday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.60.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN traded up $4.62 during midday trading on Friday, reaching $142.58. 814,384 shares of the company were exchanged, compared to its average volume of 450,370. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The business’s fifty day moving average is $137.50 and its two-hundred day moving average is $128.08. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The stock has a market cap of $10.48 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 49.73%. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter in the prior year, the business earned $2.24 earnings per share. Churchill Downs’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts predict that Churchill Downs Incorporated will post 6.03 earnings per share for the current year.

Insider Buying and Selling

In other Churchill Downs news, Director Paul C. Varga purchased 3,800 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price 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 $3,763,618.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.13% of the stock is owned by company insiders.

About Churchill Downs

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.