Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Community Trust & Investment Co.

Community Trust & Investment Co. boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% in the third quarter, HoldingsChannel reports. The firm owned 129,629 shares of the company’s stock after purchasing an additional 745 shares during the quarter. Community Trust & Investment Co.’s holdings in Churchill Downs were worth $17,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares during the period. Nisa Investment Advisors LLC boosted its position in Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares during the period. Arizona State Retirement System boosted its position in Churchill Downs by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after acquiring an additional 114 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Churchill Downs by 4.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after acquiring an additional 116 shares during the period. Finally, CWM LLC boosted its position in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial reissued a “buy” rating and issued a $166.00 price objective (up previously from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.00.

Churchill Downs Stock Down 0.9 %

Shares of Churchill Downs stock opened at $134.23 on Wednesday. The stock’s fifty day moving average is $137.73 and its 200-day moving average is $135.69. The firm has a market capitalization of $9.87 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. Equities analysts anticipate that Churchill Downs Incorporated will post 6.13 earnings per share for the current 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. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.