Northwestern Mutual Wealth Management Co. Boosts Holdings in Churchill Downs, Incorporated $CHDN

Northwestern Mutual Wealth Management Co. lifted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 316.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,512 shares of the company’s stock after purchasing an additional 33,053 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Churchill Downs were worth $4,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Churchill Downs in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. raised its position in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Churchill Downs in the 3rd quarter worth about $45,000. TFC Financial Management Inc. purchased a new position in shares of Churchill Downs in the 4th quarter worth about $47,000. Finally, UMB Bank n.a. raised its position in shares of Churchill Downs by 62.7% in the 3rd quarter. UMB Bank n.a. now owns 550 shares of the company’s stock worth $53,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.5%

Churchill Downs stock opened at $85.12 on Friday. The business has a 50-day simple moving average of $89.44 and a two-hundred day simple moving average of $98.24. The company has a market cap of $5.93 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.56 and a beta of 0.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. Analysts predict that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citizens Jmp lifted their price objective on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Finally, Mizuho lifted their price objective on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.