Sanctuary Advisors LLC Takes $4.24 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Sanctuary Advisors LLC bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 32,733 shares of the company's stock, valued at approximately $4,237,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of 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 last quarter. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the second quarter valued at $42,000. Central Pacific Bank Trust Division acquired a new position in shares of Churchill Downs during the first quarter valued at $44,000. CWM LLC grew its position in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after acquiring an additional 118 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Churchill Downs in the 2nd quarter worth about $84,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CHDN. Wells Fargo & Company upped their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and raised their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. 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. Macquarie increased their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Finally, Mizuho raised their price target on Churchill Downs from $143.00 to $157.00 and gave the company an "outperform" rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus target price of $156.90.

Churchill Downs Price Performance

CHDN stock traded up $1.01 during trading hours on Friday, hitting $137.53. 262,671 shares of the stock traded hands, compared to its average volume of 428,654. 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 stock has a 50-day simple moving average of $137.37 and a 200 day simple moving average of $134.18. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The company has a market cap of $10.11 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.01 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $858.59 million. During the same quarter in the previous year, the company posted $2.24 EPS. The business's revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

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.