Park Avenue Securities LLC Has $1.23 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Park Avenue Securities LLC decreased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,072 shares of the company’s stock after selling 1,346 shares during the period. Park Avenue Securities LLC’s holdings in Churchill Downs were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. raised its stake in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after purchasing an additional 100,230 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Churchill Downs in the 2nd quarter valued at $4,237,000. Truist Financial Corp raised its stake in shares of Churchill Downs by 215.9% in the 2nd quarter. Truist Financial Corp now owns 24,147 shares of the company’s stock valued at $3,371,000 after buying an additional 16,502 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Churchill Downs during the 2nd quarter worth about $42,000. Finally, Creative Planning boosted its position in shares of Churchill Downs by 14.3% during the 2nd quarter. Creative Planning now owns 4,035 shares of the company’s stock valued at $563,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CHDN shares. Jefferies Financial Group increased 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. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $155.00 in a research note on Monday, August 12th. JMP Securities raised their target price on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a research report on Friday, July 26th. 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 increased their price objective on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $139.03 on Wednesday. Churchill Downs Incorporated has a twelve month low of $106.45 and a twelve month high of $146.64. The business has a fifty day moving average of $137.13 and a 200-day moving average of $134.55. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $10.22 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97.

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, topping 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 company had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the prior year, the business earned $2.24 earnings per share. Churchill Downs’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs Incorporated will post 6.13 EPS for the current fiscal 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.