73,400 Shares in Churchill Downs, Incorporated $CHDN Acquired by Skylands Capital LLC

Skylands Capital LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 1st quarter, Holdings Channel.com reports. The firm acquired 73,400 shares of the company’s stock, valued at approximately $6,594,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CHDN. Allworth Financial LP lifted its holdings in shares of Churchill Downs by 1.5% in the 3rd quarter. Allworth Financial LP now owns 7,549 shares of the company’s stock worth $732,000 after buying an additional 109 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Churchill Downs by 4.7% during the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock valued at $254,000 after buying an additional 118 shares during the period. Park Avenue Securities LLC increased its stake in shares of Churchill Downs by 1.1% during the fourth quarter. Park Avenue Securities LLC now owns 12,132 shares of the company’s stock valued at $1,380,000 after buying an additional 136 shares during the period. Nebula Research & Development LLC raised its holdings in shares of Churchill Downs by 4.8% in the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after acquiring an additional 158 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Churchill Downs by 7.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock valued at $285,000 after acquiring an additional 169 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Price Performance

Shares of CHDN stock opened at $88.93 on Friday. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46. The stock’s 50-day moving average is $89.31 and its 200 day moving average is $95.28. The company has a market cap of $6.20 billion, a P/E ratio of 16.47, a PEG ratio of 0.59 and a beta of 0.68. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 43.50% and a net margin of 13.21%.The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Research analysts predict that Churchill Downs, Incorporated will post 7.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CHDN has been the topic of several recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Mizuho upped their price target 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 reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Citizens Jmp boosted their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

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.