AlphaQuest LLC grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 77.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,916 shares of the company's stock after acquiring an additional 4,766 shares during the period. AlphaQuest LLC's holdings in Churchill Downs were worth $1,458,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs during the third quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its stake in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs during the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd bought a new position in shares of Churchill Downs during the fourth quarter valued at approximately $55,000. 82.59% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CHDN has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, February 21st. StockNews.com downgraded shares of Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Mizuho decreased their price target on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average price target of $159.38.
Get Our Latest Stock Report on CHDN
Churchill Downs Stock Performance
Shares of Churchill Downs stock traded up $1.11 during trading on Thursday, hitting $107.61. 703,842 shares of the company's stock were exchanged, compared to its average volume of 471,544. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The business has a 50-day simple moving average of $121.90 and a 200-day simple moving average of $132.51. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.93.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to analysts' expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.
Churchill Downs announced that its board has approved a stock buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.
About Churchill Downs
(
Free Report)
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; casino gaming; and Terre Haute Casino Resort.
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