Copeland Capital Management LLC Boosts Stake in Churchill Downs, Incorporated $CHDN

Copeland Capital Management LLC lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,872 shares of the company’s stock after acquiring an additional 14,824 shares during the quarter. Copeland Capital Management LLC’s holdings in Churchill Downs were worth $27,358,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Churchill Downs by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company’s stock worth $556,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Churchill Downs by 11,123.9% during the 1st quarter. GAMMA Investing LLC now owns 117,290 shares of the company’s stock worth $13,027,000 after purchasing an additional 116,245 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Churchill Downs by 13.5% during the 1st quarter. Independence Bank of Kentucky now owns 18,489 shares of the company’s stock worth $2,054,000 after purchasing an additional 2,199 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Churchill Downs by 2.9% during the 1st quarter. Park Avenue Securities LLC now owns 11,259 shares of the company’s stock worth $1,251,000 after purchasing an additional 316 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Churchill Downs by 28,864.9% during the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company’s stock worth $56,879,000 after purchasing an additional 510,331 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Mizuho upped their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Barclays upped their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Susquehanna upped their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price target for the company. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $136.50.

Churchill Downs Stock Down 0.6%

CHDN stock opened at $96.02 on Friday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.81 and a beta of 0.83. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $150.21. The firm has a 50-day moving average of $101.46 and a two-hundred day moving average of $101.19.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.07. The company had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. Churchill Downs’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.89 EPS. As a group, analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.