Orvieto Partners L.P. Has $8.60 Million Stake in Churchill Downs, Incorporated $CHDN

Orvieto Partners L.P. increased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 27.6% during the first quarter, Holdings Channel reports. The institutional investor owned 95,700 shares of the company’s stock after purchasing an additional 20,700 shares during the quarter. Churchill Downs comprises 7.4% of Orvieto Partners L.P.’s holdings, making the stock its 3rd biggest position. Orvieto Partners L.P.’s holdings in Churchill Downs were worth $8,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. Systematic Financial Management LP grew its holdings in shares of Churchill Downs by 6.3% during the 1st quarter. Systematic Financial Management LP now owns 219,610 shares of the company’s stock worth $19,728,000 after purchasing an additional 13,019 shares in the last quarter. Gibbs Wealth Management acquired a new position in shares of Churchill Downs in the first quarter valued at $249,000. Sei Investments Co. raised its stake in shares of Churchill Downs by 97.5% in the first quarter. Sei Investments Co. now owns 105,917 shares of the company’s stock valued at $9,516,000 after purchasing an additional 52,286 shares in the last quarter. State of Wyoming lifted its position in Churchill Downs by 92.3% in the first quarter. State of Wyoming now owns 2,979 shares of the company’s stock worth $268,000 after purchasing an additional 1,430 shares during the period. Finally, First Trust Advisors LP lifted its position in Churchill Downs by 178.9% in the first quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock worth $6,863,000 after purchasing an additional 49,002 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CHDN has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Citizens Jmp increased their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a report on Friday, June 12th. Mizuho lifted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Churchill Downs Trading Up 2.0%

Shares of Churchill Downs stock opened at $83.75 on Friday. 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 $5.84 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The company has a 50-day simple moving average of $86.78 and a 200 day simple moving average of $91.31. 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 released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The firm 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%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. Research analysts expect that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal 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.