Argent Capital Management LLC Boosts Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Argent Capital Management LLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,542 shares of the company’s stock after purchasing an additional 502 shares during the quarter. Argent Capital Management LLC’s holdings in Churchill Downs were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital International Investors boosted its position in Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after acquiring an additional 177,900 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs in the second quarter valued at $125,418,000. Jennison Associates LLC increased its stake in Churchill Downs by 5.6% in the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after purchasing an additional 44,773 shares during the last quarter. Boston Partners lifted its position in Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after buying an additional 35,587 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Churchill Downs by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after buying an additional 3,608 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CHDN shares. Jefferies Financial Group upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus upped their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Mizuho cut their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

Churchill Downs Stock Up 2.9 %

Shares of CHDN traded up $3.85 during midday trading on Thursday, reaching $137.98. 237,799 shares of the company were exchanged, compared to its average volume of 425,501. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $146.64. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.06 and a beta of 0.97. The stock has a 50-day moving average price of $137.70 and a 200-day moving average price of $135.68.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the prior year, the business earned $0.87 EPS. Churchill Downs’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Churchill Downs Incorporated will post 6.13 earnings per share for the current 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; casino gaming; and Terre Haute Casino Resort.