JPMorgan Chase & Co. Raises Stock Holdings in Churchill Downs, Incorporated $CHDN

JPMorgan Chase & Co. increased its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,834 shares of the company’s stock after acquiring an additional 16,646 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Churchill Downs worth $21,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHDN. London Co. of Virginia raised its stake in shares of Churchill Downs by 38.7% during the 2nd quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after purchasing an additional 835,294 shares during the period. Jennison Associates LLC increased its holdings in Churchill Downs by 52.3% during the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after buying an additional 500,395 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Churchill Downs by 38.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 923,686 shares of the company’s stock worth $93,292,000 after acquiring an additional 256,022 shares during the period. Ameriprise Financial Inc. boosted its stake in Churchill Downs by 5.4% in the second quarter. Ameriprise Financial Inc. now owns 793,258 shares of the company’s stock valued at $80,119,000 after acquiring an additional 40,645 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after acquiring an additional 784,591 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $93.78 on Tuesday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $119.11. The stock has a market cap of $6.54 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The stock has a fifty day moving average of $101.72 and a 200-day moving average of $101.73.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 25th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The business had revenue of $665.90 million during the quarter, compared to the consensus estimate of $658.01 million. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Equities research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CHDN. Citizens Jmp lifted their price target on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Finally, Wells Fargo & Company cut their price target on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.