Susquehanna Fundamental Investments LLC Buys New Shares in Churchill Downs Incorporated (NASDAQ:CHDN)

Susquehanna Fundamental Investments LLC bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 71,675 shares of the company’s stock, valued at approximately $10,006,000. Susquehanna Fundamental Investments LLC owned 0.10% of Churchill Downs at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors boosted its holdings in Churchill Downs by 0.5% in the fourth 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 during the period. Vanguard Group Inc. boosted its holdings in Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after purchasing an additional 37,065 shares during the period. Capital International Investors boosted its holdings in 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 purchasing an additional 177,900 shares during the period. William Blair Investment Management LLC purchased a new position in Churchill Downs in the second quarter valued at $125,418,000. Finally, Jennison Associates LLC boosted its holdings in Churchill Downs by 5.6% in the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after purchasing an additional 44,773 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHDN has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and set a $166.00 price target (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Mizuho lifted their price target on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JMP Securities lifted their price target on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $134.02 on Friday. The firm’s fifty day simple moving average is $137.75 and its 200-day simple moving average is $133.46. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.01 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.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $858.59 million. During the same period in the prior year, the company earned $2.24 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Churchill Downs Incorporated will post 6.13 earnings per share 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; and casino gaming.