Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) by 66.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,131 shares of the company’s stock after buying an additional 850 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Churchill Downs were worth $392,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CHDN. Cambridge Investment Research Advisors Inc. grew its stake in shares of Churchill Downs by 16.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock valued at $996,000 after buying an additional 631 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in Churchill Downs by 78.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock worth $152,000 after purchasing an additional 300 shares during the period. Citigroup Inc. boosted its position in Churchill Downs by 24.8% during the 1st quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock worth $4,845,000 after purchasing an additional 4,345 shares during the period. BlackRock Inc. boosted its position in Churchill Downs by 2.2% during the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after purchasing an additional 73,505 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in Churchill Downs by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock worth $4,389,000 after purchasing an additional 1,467 shares during the period. 72.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a research report on Thursday, December 8th. They set a “neutral” rating and a $243.00 price target for the company. JMP Securities initiated coverage on shares of Churchill Downs in a research report on Tuesday, January 17th. They set an “outperform” rating and a $273.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $268.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, December 14th. Finally, Susquehanna upped their price objective on shares of Churchill Downs from $283.00 to $286.00 and gave the company a “positive” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.40.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $245.58 on Thursday. The company has a debt-to-equity ratio of 8.27, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50-day moving average of $234.02 and a two-hundred day moving average of $216.36. The stock has a market cap of $9.18 billion, a P/E ratio of 21.56 and a beta of 1.12. 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 issued its earnings results on Wednesday, February 22nd. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.20). The company had revenue of $480.10 million during the quarter, compared to analyst estimates of $473.71 million. Churchill Downs had a net margin of 24.28% and a return on equity of 60.32%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. On average, research analysts expect that Churchill Downs Incorporated will post 11.07 earnings per share for the current fiscal year.

Churchill Downs 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.