Jefferies Financial Group Inc. Makes New Investment in Churchill Downs, Incorporated $CHDN

Jefferies Financial Group Inc. purchased a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,866 shares of the company’s stock, valued at approximately $1,919,000.

Other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in Churchill Downs during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. TFC Financial Management Inc. purchased a new position in Churchill Downs during the 4th quarter worth $47,000. UMB Bank n.a. grew its position in Churchill Downs by 62.7% during the 3rd quarter. UMB Bank n.a. now owns 550 shares of the company’s stock worth $53,000 after purchasing an additional 212 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Churchill Downs by 35.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 634 shares of the company’s stock worth $62,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of recent research reports. Mizuho increased their price objective on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp increased their price objective on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $86.88 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The business’s 50 day moving average is $89.41 and its two-hundred day moving average is $97.96. Churchill Downs, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.46. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.55 and a beta of 0.73.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Churchill Downs Company 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.