Legal & General Group Plc Makes New $7.58 Million Investment in Churchill Downs, Incorporated $CHDN

Legal & General Group Plc bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 84,620 shares of the company’s stock, valued at approximately $7,585,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Churchill Downs by 4.7% during the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after buying an additional 118 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock valued at $2,479,000 after buying an additional 125 shares in the last quarter. Nebula Research & Development LLC grew its holdings in Churchill Downs by 4.8% in the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after buying an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Churchill Downs by 7.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock worth $285,000 after acquiring an additional 169 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Churchill Downs by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock worth $327,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

CHDN stock opened at $89.18 on Thursday. The business has a fifty day moving average of $87.36 and a two-hundred day moving average of $88.51. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. Churchill Downs, Incorporated has a 52-week low of $79.40 and a 52-week high of $118.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.10 EPS. As a group, research analysts anticipate that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Mizuho raised their price objective on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Finally, Truist Financial set a $145.00 target price on shares of Churchill Downs in a report on Friday, June 12th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.89.

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.