Parametrica Management Ltd acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,090 shares of the company’s stock, valued at approximately $242,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Park Avenue Securities LLC raised its position in shares of Churchill Downs by 4.2% during the first quarter. Park Avenue Securities LLC now owns 1,430 shares of the company’s stock worth $317,000 after purchasing an additional 58 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Churchill Downs by 2.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,124 shares of the company’s stock worth $753,000 after purchasing an additional 75 shares during the period. Commerce Bank raised its position in shares of Churchill Downs by 2.5% during the first quarter. Commerce Bank now owns 3,053 shares of the company’s stock worth $677,000 after purchasing an additional 75 shares during the period. Ellevest Inc. raised its position in shares of Churchill Downs by 39.3% during the first quarter. Ellevest Inc. now owns 287 shares of the company’s stock worth $64,000 after purchasing an additional 81 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Churchill Downs by 6.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 1,303 shares of the company’s stock worth $314,000 after purchasing an additional 82 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on CHDN. KeyCorp set a $280.00 price target on Churchill Downs in a research report on Tuesday, July 19th. Wells Fargo & Company dropped their price target on Churchill Downs from $270.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.00.
Churchill Downs Stock Performance
Churchill Downs (NASDAQ:CHDN – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported $3.90 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.09). The firm had revenue of $582.50 million during the quarter, compared to analysts’ expectations of $592.06 million. Churchill Downs had a net margin of 28.52% and a return on equity of 78.89%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 EPS. Analysts anticipate that Churchill Downs Incorporated will post 7.87 earnings per share for the current fiscal year.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.
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