Hsbc Holdings PLC Makes New Investment in Churchill Downs, Incorporated $CHDN

Hsbc Holdings PLC acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) in the first quarter, HoldingsChannel reports. The institutional investor acquired 17,018 shares of the company’s stock, valued at approximately $1,508,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. Quadrant Capital Group LLC boosted its holdings in Churchill Downs by 4.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after buying an additional 118 shares during the period. Nebula Research & Development LLC raised its holdings in Churchill Downs by 4.8% during the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after acquiring an additional 158 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Churchill Downs by 7.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock valued at $285,000 after acquiring an additional 169 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Churchill Downs by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock valued at $327,000 after acquiring an additional 177 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Churchill Downs by 0.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 20,450 shares of the company’s stock valued at $2,327,000 after acquiring an additional 178 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Up 1.9%

Shares of CHDN stock opened at $88.17 on Tuesday. The company’s fifty day simple moving average is $86.78 and its two-hundred day simple moving average is $90.94. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.35. The stock has a market cap of $6.15 billion, a P/E ratio of 16.33, a PEG ratio of 0.56 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44.

Analysts Set New Price Targets

Several analysts recently issued reports on CHDN shares. Citizens Jmp increased their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Mizuho upped their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and an average 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.