Northwestern Mutual Wealth Management Co. Purchases Shares of 10,086 Churchill Downs, Incorporated $CHDN

Northwestern Mutual Wealth Management Co. acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,086 shares of the company’s stock, valued at approximately $904,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHDN. Fifth Third Bancorp boosted its holdings in Churchill Downs by 6,547.6% during the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after buying an additional 51,857 shares in the last quarter. UBS Group AG grew its position in Churchill Downs by 26.9% during the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after buying an additional 74,421 shares during the period. First Trust Advisors LP increased its holdings in Churchill Downs by 178.9% in the first quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock valued at $6,863,000 after buying an additional 49,002 shares in the last quarter. Aurora Investment Counsel purchased a new position in Churchill Downs in the second quarter valued at $2,265,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Churchill Downs in the first quarter worth about $2,598,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CHDN shares. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st. Wells Fargo & Company reduced their price target on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Mizuho increased their price target on Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Citizens Jmp lowered their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.88.

Churchill Downs Stock Down 2.2%

Shares of NASDAQ CHDN opened at $88.67 on Wednesday. Churchill Downs, Incorporated has a 12-month low of $79.40 and a 12-month high of $118.35. The stock has a market cap of $6.18 billion, a PE ratio of 15.21, a P/E/G ratio of 0.86 and a beta of 0.68. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. The company has a 50-day moving average of $87.25 and a 200 day moving average of $88.76.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.45. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $3.10 EPS. As a group, sell-side analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal year.

About Churchill Downs

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.