Creative Planning Has $563,000 Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Creative Planning boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,035 shares of the company’s stock after buying an additional 504 shares during the quarter. Creative Planning’s holdings in Churchill Downs were worth $563,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its position in Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after purchasing an additional 44,773 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Churchill Downs by 12.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock valued at $52,411,000 after purchasing an additional 47,269 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Churchill Downs by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock valued at $20,425,000 after purchasing an additional 9,354 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Churchill Downs by 259.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after purchasing an additional 14,331 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Mizuho boosted their target price on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and set a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $158.33.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $138.69 on Tuesday. The stock has a 50 day moving average price of $137.31 and a 200 day moving average price of $135.05. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $146.64. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $10.19 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.24 earnings per share. Analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.