Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Capital International Investors

Capital International Investors grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,560,653 shares of the company’s stock after purchasing an additional 177,900 shares during the quarter. Capital International Investors owned 3.48% of Churchill Downs worth $316,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. increased its position in shares of Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Churchill Downs during the fourth quarter worth approximately $39,000. Vestor Capital LLC acquired a new position in shares of Churchill Downs during the fourth quarter worth approximately $45,000. Central Pacific Bank Trust Division acquired a new position in shares of Churchill Downs during the first quarter worth approximately $44,000. Finally, GAMMA Investing LLC acquired a new stake in Churchill Downs in the fourth quarter worth approximately $66,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 3.3 %

Shares of NASDAQ:CHDN traded up $4.62 during midday trading on Friday, hitting $142.58. 814,384 shares of the stock were exchanged, compared to its average volume of 450,370. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $146.64. The business’s fifty day simple moving average is $137.50 and its two-hundred day simple moving average is $128.08. The company has a market capitalization of $10.48 billion, a PE ratio of 31.76, a P/E/G ratio of 3.03 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate 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 49.73% and a net margin of 15.61%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. As a group, research analysts predict that Churchill Downs Incorporated will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHDN shares. Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial reiterated a “buy” rating and set a $166.00 price objective (up previously from $165.00) on shares of Churchill Downs in a research report on Friday. StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Mizuho increased their price objective on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.60.

Insider Activity

In other Churchill Downs news, Director Paul C. Varga purchased 3,800 shares of the stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.13% of the stock is currently owned by company insiders.

About Churchill Downs

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; and casino gaming.