Churchill Downs, Incorporated $CHDN Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP raised its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 118.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,890 shares of the company’s stock after buying an additional 29,807 shares during the period. Engineers Gate Manager LP’s holdings in Churchill Downs were worth $4,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in Churchill Downs during the 2nd quarter worth $27,000. Geneos Wealth Management Inc. grew its stake in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Churchill Downs in the 2nd quarter valued at $29,000. Finally, Parkside Financial Bank & Trust increased its stake in Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 1.3%

Shares of NASDAQ:CHDN opened at $83.86 on Friday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The stock has a 50-day simple moving average of $86.90 and a 200-day simple moving average of $88.29. The stock has a market capitalization of $5.85 billion, a P/E ratio of 14.38, a PEG ratio of 0.80 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. During the same quarter last year, the firm posted $3.10 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CHDN shares. Truist Financial set a $145.00 price target on Churchill Downs in a report on Friday, June 12th. Susquehanna raised their price objective on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a research note on Friday, July 31st. Mizuho lifted their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.89.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, entertainment and racing company headquartered in Louisville, Kentucky. The company owns and operates Churchill Downs Racetrack, home of the Kentucky Derby, as well as other thoroughbred racing venues, casinos, racinos and historical horse racing facilities.

Its operations include live and historical horse racing, casino gaming, video lottery and other gaming activities, hospitality, dining and entertainment. Through its TwinSpires business, Churchill Downs also provides online horse-racing wagering and related digital betting services in jurisdictions where such activities are permitted.

Founded in 1875, Churchill Downs has expanded from its namesake racetrack into a diversified gaming and entertainment company.