Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 358.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,696 shares of the company's stock after acquiring an additional 11,488 shares during the quarter. Squarepoint Ops LLC's holdings in Churchill Downs were worth $2,052,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. UMB Bank n.a. grew its position in Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company's stock worth $35,000 after purchasing an additional 107 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Churchill Downs during the first quarter valued at $44,000. CWM LLC lifted its holdings in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company's stock valued at $61,000 after acquiring an additional 118 shares during the period. Bank & Trust Co purchased a new position in Churchill Downs in the second quarter worth about $84,000. Finally, GAMMA Investing LLC grew its stake in shares of Churchill Downs by 72.4% during the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company's stock valued at $85,000 after purchasing an additional 257 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Trading Up 0.7 %

Shares of NASDAQ CHDN traded up $1.01 during mid-day trading on Friday, reaching $137.53. The company had a trading volume of 261,497 shares, compared to its average volume of 428,648. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $146.64. The business's 50-day moving average is $137.47 and its 200-day moving average is $133.91. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 earnings per share. Equities analysts expect that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHDN. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Friday, August 2nd. Macquarie boosted their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $156.90.

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.