Freestone Grove Partners LP Buys Shares of 187,259 Churchill Downs, Incorporated $CHDN

Freestone Grove Partners LP purchased a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, Holdings Channel.com reports. The fund purchased 187,259 shares of the company’s stock, valued at approximately $16,786,000.

A number of other institutional investors also recently made changes to their positions in CHDN. Quadrant Capital Group LLC boosted its holdings in shares of Churchill Downs by 4.7% in the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock valued at $254,000 after acquiring an additional 118 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock worth $2,479,000 after buying an additional 125 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Churchill Downs by 4.8% in the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after buying an additional 158 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Churchill Downs by 7.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock valued at $285,000 after buying an additional 169 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Churchill Downs by 5.5% during the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock valued at $327,000 after buying an additional 177 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CHDN. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Mizuho lifted their price objective on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wells Fargo & Company dropped their target price on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Susquehanna raised their target price on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.88.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $86.51 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.83 and a beta of 0.68. The stock’s fifty day simple moving average is $87.21 and its 200 day simple moving average is $88.67. Churchill Downs, Incorporated has a 52-week low of $79.40 and a 52-week high of $118.35.

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

Churchill Downs Company 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.