Stock Yards Bank & Trust Co. Purchases 109,787 Shares of Churchill Downs, Incorporated $CHDN

Stock Yards Bank & Trust Co. boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 43.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,940 shares of the company’s stock after purchasing an additional 109,787 shares during the quarter. Churchill Downs comprises about 1.2% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 26th biggest position. Stock Yards Bank & Trust Co.’s holdings in Churchill Downs were worth $36,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CHDN. Geneos Wealth Management Inc. grew its holdings in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the period. Elequin Capital LP acquired a new stake in Churchill Downs in the first quarter worth $29,000. Signaturefd LLC grew its holdings in Churchill Downs by 161.1% in the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after purchasing an additional 203 shares during the period. Private Trust Co. NA grew its holdings in Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after purchasing an additional 330 shares during the period. Finally, State of Wyoming acquired a new stake in Churchill Downs in the first quarter worth $60,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CHDN. Macquarie raised their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Mizuho lifted their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a report on Saturday, September 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a report on Friday, July 11th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.50.

Churchill Downs Stock Down 0.0%

Churchill Downs stock opened at $95.98 on Friday. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The stock has a market cap of $6.73 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The firm’s 50-day simple moving average is $101.11 and its 200 day simple moving average is $101.09. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $924.36 million. During the same period in the previous year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS 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. 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.