SeaCrest Wealth Management LLC Has $346,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

SeaCrest Wealth Management LLC boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the company’s stock after purchasing an additional 225 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Churchill Downs were worth $346,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CHDN. Benjamin F. Edwards & Company Inc. acquired a new stake in Churchill Downs in the 4th quarter valued at $39,000. Vestor Capital LLC purchased a new position in Churchill Downs during the 4th quarter worth $45,000. GAMMA Investing LLC purchased a new position in Churchill Downs during the 4th quarter worth $66,000. KBC Group NV purchased a new position in Churchill Downs during the 4th quarter worth $149,000. Finally, Fifth Third Bancorp boosted its holdings in Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Insider Activity at Churchill Downs

In other news, Director Paul C. Varga acquired 3,800 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the purchase, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CHDN has been the topic of a number of analyst reports. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Mizuho lifted their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial lifted their target price on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, JMP Securities reiterated a “market outperform” rating and set a $156.00 target price on shares of Churchill Downs in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Churchill Downs Trading Up 1.1 %

Shares of Churchill Downs stock opened at $140.00 on Thursday. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $141.57. The stock’s 50-day simple moving average is $135.21 and its 200 day simple moving average is $127.08. The stock has a market capitalization of $10.29 billion, a P/E ratio of 31.18, a P/E/G ratio of 3.75 and a beta of 0.97. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same period in the previous year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Churchill Downs Incorporated will post 6.04 EPS for the current year.

Churchill Downs Company 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.