Barlow Wealth Partners Inc. Purchases 825 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Barlow Wealth Partners Inc. grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,692 shares of the company’s stock after acquiring an additional 825 shares during the period. Churchill Downs accounts for about 2.2% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 14th biggest position. Barlow Wealth Partners Inc. owned approximately 0.17% of Churchill Downs worth $16,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CHDN. William Blair Investment Management LLC acquired a new position in Churchill Downs during the second quarter valued at approximately $125,418,000. Balyasny Asset Management L.P. raised its position in Churchill Downs by 113.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after acquiring an additional 246,769 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Churchill Downs in the second quarter valued at $26,384,000. Finally, Capital International Investors increased its holdings in shares of 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 last quarter. 82.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $155.00 in a report on Monday, August 12th. Stifel Nicolaus raised their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Macquarie raised their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $156.90.

Churchill Downs Stock Down 0.2 %

NASDAQ CHDN traded down $0.24 during mid-day trading on Wednesday, hitting $138.79. The company’s stock had a trading volume of 16,194 shares, compared to its average volume of 426,701. The company’s 50 day simple moving average is $137.13 and its 200 day simple moving average is $134.55. 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 firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.01 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $858.59 million. During the same period last year, the business earned $2.24 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Churchill Downs Incorporated will post 6.13 earnings per share for the current 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; and casino gaming.