Bridger Management LLC Invests $5.13 Million in Churchill Downs, Incorporated $CHDN

Bridger Management LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 57,179 shares of the company’s stock, valued at approximately $5,126,000. Churchill Downs makes up about 3.4% of Bridger Management LLC’s investment portfolio, making the stock its 12th largest holding.

Several other large investors have also bought and sold shares of the business. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs during the third quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 acquiring an additional 232 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Churchill Downs during the 2nd quarter valued at approximately $29,000. Finally, Root Financial Partners LLC grew its holdings in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CHDN shares. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Wells Fargo & Company lowered their price target on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Finally, Susquehanna raised their price objective on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.88.

Churchill Downs Stock Performance

Churchill Downs stock opened at $89.90 on Friday. The business has a 50 day moving average of $87.24 and a 200-day moving average of $88.68. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $6.27 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.82 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. During the same quarter last year, the business earned $3.10 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs, Incorporated will post 7.14 earnings per share for the current 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.