Price T Rowe Associates Inc. MD Grows Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Posted by on Mar 14th, 2023

Price T Rowe Associates Inc. MD boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,050 shares of the company’s stock after buying an additional 1,374 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.85% of Churchill Downs worth $58,570,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Private Trust Co. NA purchased a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $29,000. CWM LLC raised its position in Churchill Downs by 132.4% in the third quarter. CWM LLC now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 94 shares during the period. Quadrant Capital Group LLC lifted its stake in Churchill Downs by 120.5% during the second quarter. Quadrant Capital Group LLC now owns 172 shares of the company’s stock worth $33,000 after purchasing an additional 94 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Churchill Downs by 90.0% during the third quarter. Penserra Capital Management LLC now owns 228 shares of the company’s stock worth $41,000 after purchasing an additional 108 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Churchill Downs in the third quarter valued at $44,000. Institutional investors and hedge funds own 72.61% of the company’s stock.

Insider Transactions at Churchill Downs

In other news, COO William E. Mudd sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $246.46, for a total transaction of $4,929,200.00. Following the sale, the chief operating officer now owns 306,003 shares of the company’s stock, valued at approximately $75,417,499.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Churchill Downs from $268.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 14th. JMP Securities initiated coverage on shares of Churchill Downs in a report on Tuesday, January 17th. They issued an “outperform” rating and a $273.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a report on Thursday, December 8th. They set a “neutral” rating and a $243.00 target price on the stock. Finally, Susquehanna boosted their price target on shares of Churchill Downs from $283.00 to $286.00 and gave the stock a “positive” rating in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.40.

Churchill Downs Stock Down 2.0 %

Shares of Churchill Downs stock opened at $234.56 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 8.27. Churchill Downs Incorporated has a 52-week low of $172.75 and a 52-week high of $253.29. The company has a market capitalization of $8.77 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.88 and a beta of 1.12. The company has a 50 day moving average of $238.78 and a 200 day moving average of $217.95.

Churchill Downs (NASDAQ:CHDN – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $1.46 earnings per share (EPS) 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 analysts’ expectations of $473.71 million. Churchill Downs had a return on equity of 60.32% and a net margin of 24.28%. Churchill Downs’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. As a group, research analysts forecast that Churchill Downs Incorporated will post 11.16 EPS 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.

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

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