Twin Capital Management Inc. Makes New Investment in Churchill Downs, Incorporated $CHDN

Twin Capital Management Inc. purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,432 shares of the company’s stock, valued at approximately $1,027,000.

Other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. raised its position in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the period. Root Financial Partners LLC lifted its stake in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after purchasing an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Churchill Downs during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $86.29 on Friday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.56 and a beta of 0.67. The company has a 50 day moving average of $87.08 and a 200-day moving average of $92.38. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Mizuho upped their price target on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Truist Financial set a $145.00 price objective on Churchill Downs in a research note on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $138.50.

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.