Penserra Capital Management LLC Has $41,000 Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Posted by on Feb 28th, 2023

Penserra Capital Management LLC boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) by 90.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228 shares of the company’s stock after purchasing an additional 108 shares during the period. Penserra Capital Management LLC’s holdings in Churchill Downs were worth $41,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Churchill Downs by 6.4% during the second quarter. Rhumbline Advisers now owns 99,800 shares of the company’s stock valued at $19,115,000 after purchasing an additional 6,029 shares during the last quarter. Quantbot Technologies LP boosted its position in Churchill Downs by 263.7% during the second quarter. Quantbot Technologies LP now owns 3,739 shares of the company’s stock valued at $716,000 after purchasing an additional 2,711 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Churchill Downs by 7.0% during the second quarter. Envestnet Asset Management Inc. now owns 37,564 shares of the company’s stock valued at $7,195,000 after purchasing an additional 2,466 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in Churchill Downs by 6.1% during the third quarter. Aptus Capital Advisors LLC now owns 15,860 shares of the company’s stock valued at $2,921,000 after purchasing an additional 915 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in Churchill Downs by 102.7% during the second quarter. Ontario Teachers Pension Plan Board now owns 4,959 shares of the company’s stock valued at $950,000 after purchasing an additional 2,513 shares during the last quarter. 72.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHDN. Wells Fargo & Company cut their price objective on Churchill Downs from $268.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, December 14th. JMP Securities began coverage on Churchill Downs in a research report on Tuesday, January 17th. They issued an “outperform” rating and a $273.00 price objective for the company. JPMorgan Chase & Co. began coverage on Churchill Downs in a research report on Thursday, December 8th. They issued a “neutral” rating and a $243.00 price objective for the company. Finally, Susquehanna raised their price objective on Churchill Downs from $283.00 to $286.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $268.40.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $243.81 on Tuesday. The stock has a market cap of $9.11 billion, a P/E ratio of 21.41 and a beta of 1.12. The stock has a 50 day simple moving average of $232.56 and a 200 day simple moving average of $215.94. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 8.27. Churchill Downs Incorporated has a 1-year low of $172.75 and a 1-year high of $253.29.

Churchill Downs (NASDAQ:CHDN – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.20). The firm had revenue of $480.10 million for the quarter, compared to analyst estimates of $473.71 million. Churchill Downs had a return on equity of 60.32% and a net margin of 24.28%. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. Research analysts anticipate that Churchill Downs Incorporated will post 11.38 earnings per share for the current year.

Churchill Downs Company Profile

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Churchill Downs, Inc operates as a provider of pari-mutuel horse racing, online account wagering on horse racing and casino gaming. It operates through the following business segments: Racing, Casino, Online Wagering, Corporate, and Other Investments. The Racing segment includes Churchill Downs Racetrack, Arlington Park Racecourse, Calder Race Course, and Fair Grounds Race Course.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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