Raymond James Financial Services Advisors Inc. purchased a new position in Churchill Downs, Inc. (NASDAQ:CHDN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 883 shares of the company’s stock, valued at approximately $262,000.

A number of other hedge funds have also made changes to their positions in the stock. Silvant Capital Management LLC purchased a new position in Churchill Downs during the first quarter valued at $105,000. Stratos Wealth Partners LTD. purchased a new position in Churchill Downs during the first quarter valued at $125,000. Synovus Financial Corp purchased a new position in Churchill Downs during the first quarter valued at $146,000. Renaissance Technologies LLC purchased a new position in Churchill Downs during the fourth quarter valued at $204,000. Finally, Commerce Bank purchased a new position in Churchill Downs during the first quarter valued at $208,000. 72.37% of the stock is owned by institutional investors.

CHDN opened at $263.95 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $3.68 billion, a PE ratio of 26.55, a P/E/G ratio of 1.26 and a beta of 0.96. Churchill Downs, Inc. has a 1 year low of $193.60 and a 1 year high of $314.60.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $7.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.43 by $0.28. The firm had revenue of $379.40 million during the quarter, compared to analyst estimates of $371.30 million. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. Churchill Downs’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.81 EPS. sell-side analysts forecast that Churchill Downs, Inc. will post 10.72 earnings per share for the current fiscal year.

Several equities analysts have commented on the company. ValuEngine lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. BidaskClub lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Jefferies Financial Group set a $317.00 price objective on Churchill Downs and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research lowered Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $314.00.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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