Jefferies Financial Group Inc. Acquires New Stake in Churchill Downs, Incorporated $CHDN

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

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. Fifth Third Bancorp grew its holdings in shares of Churchill Downs by 6,547.6% in the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock valued at $5,990,000 after purchasing an additional 51,857 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Churchill Downs by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock valued at $21,326,000 after purchasing an additional 16,646 shares during the period. Fieldview Capital Management LLC purchased a new position in Churchill Downs in the third quarter valued at $3,869,000. UBS Group AG boosted its holdings in Churchill Downs by 26.9% in the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after purchasing an additional 74,421 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Churchill Downs by 9.2% in the third quarter. William Blair Investment Management LLC now owns 1,017,726 shares of the company’s stock valued at $98,730,000 after purchasing an additional 85,925 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHDN. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Mizuho raised their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Citizens Jmp raised their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, April 24th. Eleven 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

Churchill Downs Stock Performance

Shares of CHDN opened at $86.88 on Thursday. The stock has a 50 day moving average price of $89.41 and a 200 day moving average price of $97.96. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 0.55 and a beta of 0.73. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46.

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

About Churchill Downs

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.