Commonwealth Equity Services LLC Buys 162 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Commonwealth Equity Services LLC grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,204 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Churchill Downs were worth $308,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares in the last quarter. CWM LLC grew its stake in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares in the last quarter. Finally, Sculati Wealth Management LLC grew its stake in shares of Churchill Downs by 2.8% during the 4th quarter. Sculati Wealth Management LLC now owns 5,175 shares of the company’s stock worth $698,000 after acquiring an additional 140 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

Churchill Downs stock opened at $137.18 on Tuesday. The business’s 50-day moving average price is $138.45 and its two-hundred day moving average price is $133.04. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $146.64. The stock has a market cap of $10.08 billion, a PE ratio of 30.55, a P/E/G ratio of 2.04 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same period last year, the firm posted $2.24 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that Churchill Downs Incorporated will post 6.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company lifted their target price on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JMP Securities lifted their target price on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Macquarie lifted their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Mizuho raised their price target on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

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.