Glenview Trust Co Takes $17.71 Million Position in Churchill Downs, Incorporated $CHDN

Glenview Trust Co purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 197,613 shares of the company’s stock, valued at approximately $17,714,000.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Churchill Downs during the second quarter worth approximately $555,948,000. William Blair Investment Management LLC bought a new stake in shares of Churchill Downs in the second quarter valued at approximately $92,340,000. Norges Bank bought a new stake in shares of Churchill Downs in the fourth quarter valued at approximately $90,529,000. AQR Capital Management LLC grew its position in Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after buying an additional 784,591 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Churchill Downs during the second quarter worth approximately $69,099,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Down 1.2%

Shares of CHDN opened at $86.51 on Friday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.83 and a beta of 0.68. The stock has a fifty day moving average of $87.21 and a 200-day moving average of $88.67.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $977.38 million. During the same period in the previous year, the business posted $3.10 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHDN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a report on Friday, July 31st. Wells Fargo & Company reduced their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Mizuho boosted their price target on Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Citizens Jmp dropped their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $136.88.

Churchill Downs 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.