Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Community Trust & Investment Co.

Community Trust & Investment Co. boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,629 shares of the company’s stock after purchasing an additional 745 shares during the quarter. Community Trust & Investment Co. owned about 0.18% of Churchill Downs worth $17,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. Kimelman & Baird LLC purchased a new stake in shares of Churchill Downs during the second quarter worth approximately $42,000. Central Pacific Bank Trust Division acquired a new stake in shares of Churchill Downs during the first quarter valued at $44,000. CWM LLC boosted its stake in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 118 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in Churchill Downs in the 2nd quarter worth about $84,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHDN. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Stifel Nicolaus raised their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Macquarie lifted their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.00.

Churchill Downs Price Performance

Shares of CHDN opened at $134.23 on Wednesday. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.06 and a beta of 0.97. The stock has a 50 day moving average of $137.73 and a 200-day moving average of $135.69. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter last year, the firm earned $2.24 EPS. The business’s revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that Churchill Downs Incorporated will post 6.13 EPS for the current year.

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; casino gaming; and Terre Haute Casino Resort.