New Wave Wealth Advisors LLC Purchases New Shares in Churchill Downs, Incorporated $CHDN

New Wave Wealth Advisors LLC purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,069 shares of the company’s stock, valued at approximately $735,000.

Other institutional investors have also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in Churchill Downs in the 2nd quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Churchill Downs during the second quarter valued at $29,000. Root Financial Partners LLC lifted its stake in shares of Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Twin Tree Management LP acquired a new position in shares of Churchill Downs during the second quarter valued at $36,000. Finally, NewEdge Advisors LLC bought a new position in Churchill Downs in the first quarter valued at about $50,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.1%

Churchill Downs stock traded up $0.07 during midday trading on Monday, hitting $81.77. 284,853 shares of the stock were exchanged, compared to its average volume of 1,005,461. The company has a fifty day simple moving average of $83.79 and a two-hundred day simple moving average of $86.74. The stock has a market capitalization of $5.70 billion, a PE ratio of 14.02, a P/E/G ratio of 0.78 and a beta of 0.77. Churchill Downs, Incorporated has a 52 week low of $73.08 and a 52 week high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. During the same quarter in the previous year, the business earned $3.10 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Churchill Downs, Incorporated will post 7.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHDN. Royal Bank Of Canada set a $131.00 price objective on Churchill Downs in a research report on Tuesday, October 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research note on Monday. Citigroup reiterated a “market outperform” rating on shares of Churchill Downs in a research report on Tuesday, October 13th. 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. Finally, Mizuho boosted their price target 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. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.89.

About Churchill Downs

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.