Algert Global LLC Purchases Shares of 6,677 Churchill Downs Incorporated (NASDAQ:CHDN)

Algert Global LLC purchased a new stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,677 shares of the company's stock, valued at approximately $932,000.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company's stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Churchill Downs in the first quarter valued at $44,000. CWM LLC increased its stake in shares of 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 buying an additional 118 shares in the last quarter. Bank & Trust Co bought a new position in shares of Churchill Downs in the second quarter valued at about $84,000. Finally, GAMMA Investing LLC grew its holdings in Churchill Downs by 72.4% during the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company's stock worth $85,000 after acquiring an additional 257 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Trading Up 0.7 %

CHDN traded up $1.01 during midday trading on Friday, reaching $137.53. 262,671 shares of the company were exchanged, compared to its average volume of 428,654. The stock has a market capitalization of $10.11 billion, a P/E ratio of 30.63, a PEG ratio of 2.01 and a beta of 0.97. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The stock's 50-day simple moving average is $137.37 and its 200 day simple moving average is $134.06. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analysts' expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.24 earnings per share. As a group, analysts forecast that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHDN shares. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Friday, August 2nd. JMP Securities lifted their target price on Churchill Downs from $158.00 to $166.00 and gave the company a "market outperform" rating in a research note on Friday, July 26th. Jefferies Financial Group boosted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. Finally, Truist Financial reiterated a "buy" rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and a consensus target price of $156.90.

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.