Sargent Investment Group LLC Purchases New Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Sargent Investment Group LLC purchased a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the fourth quarter, Holdings Channel reports. The firm purchased 1,970 shares of the company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock valued at $2,657,000 after buying an additional 10,868 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after buying an additional 38,298 shares during the last quarter. Fifth Third Bancorp raised its holdings in Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after buying an additional 189 shares during the last quarter. Vanguard Group Inc. raised its holdings in Churchill Downs by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after buying an additional 56,318 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Churchill Downs by 28.9% during the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after buying an additional 179,814 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHDN has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a report on Friday. Mizuho upped their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $137.00 to $141.00 in a report on Monday, April 15th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday. Finally, Truist Financial upped their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Churchill Downs Stock Up 0.2 %

NASDAQ:CHDN opened at $129.44 on Monday. The firm’s 50-day moving average price is $120.00 and its 200-day moving average price is $120.87. The company has a market capitalization of $9.51 billion, a PE ratio of 28.83, a P/E/G ratio of 9.01 and a beta of 1.03. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $150.45.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, equities analysts predict that Churchill Downs Incorporated will post 5.48 EPS for the current fiscal year.

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.