UBS Group AG Raises Holdings in Churchill Downs, Incorporated $CHDN

UBS Group AG lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 26.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,982 shares of the company’s stock after purchasing an additional 74,421 shares during the period. UBS Group AG’s holdings in Churchill Downs were worth $39,935,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its stake in shares of Churchill Downs by 126.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock worth $5,326,000 after purchasing an additional 26,105 shares in the last quarter. Columbia Asset Management increased its stake in shares of Churchill Downs by 7.9% during the 4th quarter. Columbia Asset Management now owns 5,685 shares of the company’s stock worth $647,000 after purchasing an additional 415 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $4,266,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Churchill Downs by 19.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 38,052 shares of the company’s stock worth $4,330,000 after purchasing an additional 6,247 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Churchill Downs by 6.4% during the 4th quarter. Evergreen Capital Management LLC now owns 3,372 shares of the company’s stock worth $385,000 after purchasing an additional 202 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Wells Fargo & Company restated an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Mizuho raised their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Finally, Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Stock Down 3.7%

Shares of CHDN opened at $88.85 on Friday. The firm has a market cap of $6.19 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.61 and a beta of 0.73. The company’s fifty day moving average is $90.14 and its two-hundred day moving average is $99.26. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. 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 (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $663.00 million for the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. Churchill Downs’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. Analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

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.