Churchill Downs, Incorporated $CHDN Position Boosted by Orvieto Partners L.P.

Orvieto Partners L.P. raised its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,700 shares of the company’s stock after buying an additional 20,700 shares during the quarter. Churchill Downs accounts for about 7.4% of Orvieto Partners L.P.’s holdings, making the stock its 3rd biggest position. Orvieto Partners L.P. owned approximately 0.14% of Churchill Downs worth $8,597,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CHDN. Measured Wealth Private Client Group LLC purchased a new stake in shares of Churchill Downs during the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. grew its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the last quarter. Root Financial Partners LLC increased its holdings in Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Churchill Downs during the fourth quarter valued at approximately $38,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

CHDN opened at $83.75 on Friday. The firm 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 stock’s 50 day moving average price is $86.78 and its two-hundred day moving average price is $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, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.46.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly 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. 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 the consensus estimate of $659.32 million. During the same period in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Analyst Ratings Changes

CHDN has been the subject of several recent research reports. 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. Mizuho raised their price target 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Citizens Jmp upped their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Finally, Truist Financial set a $145.00 target price on shares of Churchill Downs in a research report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.50.

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.