Virtu Financial LLC Invests $1.03 Million in Churchill Downs Incorporated (NASDAQ:CHDN)

Virtu Financial LLC bought a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 7,378 shares of the company’s stock, valued at approximately $1,030,000.

A number of other institutional investors have also modified their holdings of CHDN. BNP Paribas Financial Markets increased its position in shares of Churchill Downs by 19.8% in the fourth quarter. BNP Paribas Financial Markets now owns 4,149 shares of the company’s stock worth $560,000 after acquiring an additional 686 shares in the last quarter. Norges Bank purchased a new position in Churchill Downs in the fourth quarter valued at about $94,137,000. Coldstream Capital Management Inc. lifted its stake in shares of Churchill Downs by 23.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,232 shares of the company’s stock worth $301,000 after purchasing an additional 419 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Churchill Downs by 57.1% during the 4th quarter. Wells Fargo & Company MN now owns 156,226 shares of the company’s stock valued at $21,080,000 after buying an additional 56,813 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Churchill Downs by 65.2% during the fourth quarter. Corient Private Wealth LLC now owns 7,153 shares of the company’s stock worth $965,000 after purchasing an additional 2,822 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of analyst reports. Mizuho raised their price objective on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price target on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group upped 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 Thursday, July 11th. Macquarie increased their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted 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 Monday, July 22nd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Down 0.9 %

Shares of Churchill Downs stock opened at $138.78 on Thursday. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a twelve month low of $106.45 and a twelve month high of $146.64. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. The business’s 50 day simple moving average is $138.67 and its 200-day simple moving average is $132.33.

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. The company had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $2.24 earnings per share. Equities research analysts forecast that Churchill Downs Incorporated will post 6.17 earnings per share 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.