Shine Investment Advisory Services Inc. increased its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 200.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 708 shares of the company’s stock after purchasing an additional 472 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Churchill Downs were worth $64,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Churchill Downs in the 4th quarter valued at $28,815,000. GW&K Investment Management LLC acquired a new stake in Churchill Downs in the 4th quarter valued at $22,800,000. London Co. of Virginia acquired a new stake in Churchill Downs in the 4th quarter valued at $22,222,000. Emerald Advisers LLC acquired a new stake in Churchill Downs in the 4th quarter valued at $19,100,000. Finally, Fiera Capital Corp boosted its stake in Churchill Downs by 468.2% in the 4th quarter. Fiera Capital Corp now owns 92,202 shares of the company’s stock valued at $7,497,000 after buying an additional 75,974 shares in the last quarter. Institutional investors and hedge funds own 24.44% of the company’s stock.
Churchill Downs stock opened at $93.45 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.18. Churchill Downs, Inc. has a 52 week low of $74.58 and a 52 week high of $104.87.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $218.67 million. Churchill Downs had a return on equity of 33.95% and a net margin of 34.97%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Research analysts anticipate that Churchill Downs, Inc. will post 4.6 earnings per share for the current year.
Several analysts recently commented on CHDN shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $93.00 price target (down previously from $280.00) on shares of Churchill Downs in a research note on Friday, March 1st. ValuEngine lowered Churchill Downs from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. BidaskClub raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Jefferies Financial Group raised Churchill Downs from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Friday, January 11th. Finally, Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $101.42.
In other Churchill Downs news, Director Karole Lloyd acquired 1,000 shares of Churchill Downs stock in a transaction on Friday, March 22nd. The shares were bought at an average price of $85.22 per share, with a total value of $85,220.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.05% of the stock is currently owned by insiders.
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Churchill Downs Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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