Royal Capital Wealth Management LLC Makes New $201,000 Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Royal Capital Wealth Management LLC acquired a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,440 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also modified their holdings of the company. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs in the 2nd quarter valued at $125,418,000. Balyasny Asset Management L.P. boosted its holdings in shares of Churchill Downs by 113.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Churchill Downs in the second quarter worth approximately $26,384,000. Finally, Capital International Investors raised its holdings in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after acquiring an additional 177,900 shares during the period. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of recent analyst reports. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Mizuho raised 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. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Macquarie lifted their target price on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Down 2.9 %

Shares of Churchill Downs stock opened at $133.25 on Wednesday. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.04 and a beta of 0.97. The stock has a 50-day simple moving average of $138.23 and a 200-day simple moving average of $133.19. 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 current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The firm had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same period in the previous year, the company earned $2.24 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that Churchill Downs Incorporated will post 6.17 earnings per share 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.