nVerses Capital LLC Purchases Shares of 1,400 Churchill Downs Incorporated (NASDAQ:CHDN)

nVerses Capital LLC acquired a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,400 shares of the company’s stock, valued at approximately $189,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kimelman & Baird LLC acquired a new stake in Churchill Downs during the second quarter valued at approximately $42,000. Central Pacific Bank Trust Division bought a new stake in Churchill Downs in the first quarter valued at $44,000. CWM LLC lifted its holdings in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. grew its position in Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in Churchill Downs in the second quarter worth $84,000. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CHDN shares. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Jefferies Financial Group lifted their price target 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. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Truist Financial reiterated a “buy” rating and issued a $166.00 price target (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Finally, Mizuho upped their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.75.

Churchill Downs Price Performance

CHDN stock opened at $138.01 on Friday. The stock has a 50-day moving average price of $137.79 and a two-hundred day moving average price of $135.41. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The stock has a market cap of $10.14 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last announced 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 return on equity of 47.53% and a net margin of 15.61%. The business had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same quarter last year, the firm earned $2.24 EPS. Churchill Downs’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts forecast that Churchill Downs Incorporated will post 6.13 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; casino gaming; and Terre Haute Casino Resort.