Churchill Downs Incorporated (NASDAQ:CHDN) Stock Position Increased by Armistice Capital LLC

Armistice Capital LLC boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,254 shares of the company’s stock after buying an additional 4,950 shares during the quarter. Armistice Capital LLC’s holdings in Churchill Downs were worth $17,346,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 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 valued at $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. grew its position in Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares during the last quarter. Capital International Investors increased its holdings in shares of Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after buying an additional 177,900 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Churchill Downs in the second quarter valued at $125,418,000. Finally, Jennison Associates LLC lifted its position in shares of Churchill Downs by 5.6% during the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after acquiring an additional 44,773 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

NASDAQ CHDN opened at $131.74 on Thursday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The company has a 50 day simple moving average of $138.01 and a 200-day simple moving average of $133.18. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last posted 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. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. During the same period in the previous year, the company posted $2.24 EPS. Churchill Downs’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CHDN shares. Truist Financial reaffirmed a “buy” rating and set a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Macquarie boosted their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Mizuho upped their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the company 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Churchill Downs 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; and casino gaming.