Bank & Trust Co Makes New $84,000 Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Bank & Trust Co acquired a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 600 shares of the company’s stock, valued at approximately $84,000.

A number of other large investors have also recently made changes to their positions in CHDN. UMB Bank n.a. raised its stake in Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in Churchill Downs in the fourth quarter valued at approximately $39,000. Central Pacific Bank Trust Division purchased a new stake in Churchill Downs during the first quarter worth $44,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs during the 4th quarter valued at about $45,000. Finally, GAMMA Investing LLC acquired a new position in shares of Churchill Downs during the 4th quarter worth approximately $66,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial reissued a “buy” rating and issued a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Stifel Nicolaus raised their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Macquarie upped their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JMP Securities lifted their target price on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. Finally, Mizuho increased their price objective on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $157.11.

Churchill Downs Trading Up 1.8 %

NASDAQ:CHDN traded up $2.29 on Tuesday, reaching $132.64. The stock had a trading volume of 275,370 shares, compared to its average volume of 446,424. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 2.34 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $146.64. The firm’s fifty day moving average is $138.09 and its two-hundred day moving average is $128.79.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period in the prior year, the firm posted $2.24 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts expect that Churchill Downs Incorporated will post 6.11 EPS for the current fiscal year.

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.