Consolidated Planning Corp Makes New Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Consolidated Planning Corp purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,551 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors have also added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Churchill Downs by 90.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after purchasing an additional 10,868 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Churchill Downs by 34.9% during the third quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after purchasing an additional 38,298 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Churchill Downs by 15.1% during the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares during the period. Vanguard Group Inc. raised its position in Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after acquiring an additional 56,318 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Churchill Downs by 28.9% during the fourth quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after acquiring an additional 179,814 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock traded up $0.21 on Friday, reaching $129.44. The company’s stock had a trading volume of 564,088 shares, compared to its average volume of 459,356. The company has a market capitalization of $9.51 billion, a P/E ratio of 28.83, a PEG ratio of 9.01 and a beta of 1.03. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $150.45. The stock has a 50-day moving average price of $120.00 and a 200-day moving average price of $120.82. The company has a quick ratio of 0.53, a current ratio of 0.50 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Analysts expect that Churchill Downs Incorporated will post 5.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho lifted their price target on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus lifted their price target on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial lifted their price target on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $137.00 to $141.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

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; and casino gaming.