Exchange Traded Concepts LLC trimmed its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 21.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,705 shares of the company's stock after selling 7,915 shares during the period. Exchange Traded Concepts LLC's holdings in Churchill Downs were worth $4,016,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CHDN. Jennison Associates LLC lifted its holdings in shares of Churchill Downs by 5.6% in the first quarter. Jennison Associates LLC now owns 847,847 shares of the company's stock valued at $104,921,000 after purchasing an additional 44,773 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Churchill Downs by 12.6% in the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company's stock valued at $52,411,000 after purchasing an additional 47,269 shares during the period. Goldman Sachs Group Inc. lifted its position in Churchill Downs by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company's stock worth $20,425,000 after acquiring an additional 9,354 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Churchill Downs by 259.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company's stock valued at $2,772,000 after purchasing an additional 14,331 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock worth $27,338,000 after acquiring an additional 193,914 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.
CHDN stock opened at $139.07 on Monday. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64. The company's 50-day moving average price is $137.14 and its two-hundred day moving average price is $134.95. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The firm has a market cap of $10.22 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.06 and a beta of 0.97.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $2.24 earnings per share. On average, analysts anticipate that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. Mizuho upped their target price on Churchill Downs from $143.00 to $157.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Jefferies Financial Group upped 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 Thursday, July 11th. Truist Financial reaffirmed a "buy" rating and set a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.33.
Check Out Our Latest Stock Analysis on 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; casino gaming; and Terre Haute Casino Resort.
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