UMB Bank n.a. Buys 255 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

UMB Bank n.a. lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 82.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 563 shares of the company’s stock after purchasing an additional 255 shares during the quarter. UMB Bank n.a.’s holdings in Churchill Downs were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new position in Churchill Downs during the second quarter valued at approximately $125,418,000. Assenagon Asset Management S.A. lifted its stake in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after buying an additional 193,914 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Churchill Downs in the 2nd quarter worth $26,384,000. Capital International Investors increased its stake in Churchill Downs by 7.5% in the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after buying an additional 177,900 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in Churchill Downs by 60.1% during the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock valued at $48,452,000 after acquiring an additional 130,331 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHDN. Truist Financial reiterated 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. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho upped their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company raised their price objective on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average price target of $158.33.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $139.07 on Monday. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.06 and a beta of 0.97. 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 business has a 50 day simple moving average of $137.14 and a 200-day simple moving average of $134.95. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period last year, the company earned $2.24 earnings per share. Churchill Downs’s revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that Churchill Downs Incorporated will post 6.13 EPS for the current year.

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; casino gaming; and Terre Haute Casino Resort.