OP Asset Management Ltd Buys Shares of 20,405 Churchill Downs, Incorporated $CHDN

OP Asset Management Ltd bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 1st quarter, HoldingsChannel reports. The firm bought 20,405 shares of the company’s stock, valued at approximately $1,833,000.

A number of other large investors have also recently made changes to their positions in CHDN. AQR Capital Management LLC lifted its holdings in Churchill Downs by 29.8% during the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after purchasing an additional 784 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Churchill Downs by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after buying an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Churchill Downs by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after buying an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Churchill Downs during the second quarter valued at about $229,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $88.93 on Monday. The stock’s 50-day simple moving average is $89.31 and its two-hundred day simple moving average is $95.16. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The firm has a market capitalization of $6.20 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.59 and a beta of 0.68. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter last year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citizens Jmp raised their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.