Churchill Downs, Incorporated $CHDN Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6,547.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 52,649 shares of the company’s stock after acquiring an additional 51,857 shares during the quarter. Fifth Third Bancorp’s holdings in Churchill Downs were worth $5,990,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in Churchill Downs by 14.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,667 shares of the company’s stock worth $1,214,000 after acquiring an additional 1,355 shares during the period. Keybank National Association OH acquired a new stake in Churchill Downs during the 4th quarter worth about $346,000. M&T Bank Corp acquired a new stake in Churchill Downs during the 4th quarter worth about $372,000. Pictet Asset Management Holding SA lifted its position in Churchill Downs by 5.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,747 shares of the company’s stock worth $1,109,000 after acquiring an additional 471 shares during the period. Finally, UBS Group AG lifted its position in Churchill Downs by 26.9% during the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after acquiring an additional 74,421 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHDN. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Mizuho lifted their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Citizens Jmp lifted their price target on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $98.65 on Friday. The stock has a market cap of $6.88 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 0.65 and a beta of 0.73. The business has a 50-day simple moving average of $90.35 and a 200-day simple moving average of $99.12. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. The business had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. On average, equities analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Churchill Downs Profile

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.