153,182 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Acquired by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. bought a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 153,182 shares of the company’s stock, valued at approximately $20,669,000. Churchill Downs comprises approximately 2.9% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 5th largest position.

Other large investors have also modified their holdings of the company. Boston Partners purchased a new position in Churchill Downs in the third quarter valued at $47,479,000. Jennison Associates LLC increased its holdings in shares of Churchill Downs by 28.9% in the 4th 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 during the period. Federated Hermes Inc. raised its holdings in shares of Churchill Downs by 1,560.2% in the third quarter. Federated Hermes Inc. now owns 134,622 shares of the company’s stock valued at $15,622,000 after buying an additional 126,513 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth $11,277,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Churchill Downs by 8.3% in the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock valued at $126,051,000 after buying an additional 83,214 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.7 %

NASDAQ:CHDN traded up $1.02 on Wednesday, reaching $139.10. The company’s stock had a trading volume of 450,951 shares, compared to its average volume of 406,961. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $147.30. The business’s 50-day moving average price is $121.85 and its two-hundred day moving average price is $121.92. The firm has a market cap of $10.22 billion, a PE ratio of 30.75, a PEG ratio of 3.81 and a beta of 0.99. 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 (NASDAQ:CHDN) last announced its quarterly earnings data 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. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Churchill Downs Incorporated will post 5.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Churchill Downs

In other news, Director Paul C. Varga purchased 3,800 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $130.22 per share, with a total value of $494,836.00. Following the acquisition, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $137.00 to $141.00 in a report on Monday, April 15th. JMP Securities reiterated a “market outperform” rating and set a $156.00 price objective on shares of Churchill Downs in a research note on Monday. Finally, Truist Financial lifted their target price on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Churchill Downs 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.