Mirador Capital Partners LP Invests $272,000 in Churchill Downs Incorporated (NASDAQ:CHDN)

Mirador Capital Partners LP purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,200 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Barlow Wealth Partners Inc. purchased a new stake in shares of Churchill Downs during the 4th quarter worth $20,669,000. Capital Research Global Investors boosted its position in shares of Churchill Downs by 0.5% during the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after acquiring an additional 35,337 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after acquiring an additional 246,769 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Churchill Downs by 6.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock worth $20,425,000 after purchasing an additional 9,354 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Churchill Downs by 1.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 11,684 shares of the company’s stock valued at $1,577,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHDN. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a report on Monday, May 6th. Mizuho raised their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their price objective on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Truist Financial lifted their target price on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Insider Buying and Selling at Churchill Downs

In other news, Director Paul C. Varga purchased 3,800 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.13% of the stock is currently owned by corporate insiders.

Churchill Downs Stock Down 0.7 %

Churchill Downs stock opened at $138.56 on Tuesday. The stock’s 50 day moving average price is $134.58 and its 200 day moving average price is $126.92. The company has a market cap of $10.18 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.75 and a beta of 0.97. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $141.57.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Churchill Downs Incorporated will post 6.04 EPS for the current fiscal year.

About Churchill Downs

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; and casino gaming.