Tidal Investments LLC Grows Holdings in Churchill Downs, Incorporated $CHDN

Tidal Investments LLC increased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 43.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,804 shares of the company’s stock after acquiring an additional 69,098 shares during the quarter. Tidal Investments LLC’s holdings in Churchill Downs were worth $20,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Engineers Gate Manager LP grew its holdings in Churchill Downs by 118.8% in the second quarter. Engineers Gate Manager LP now owns 54,890 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,807 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Churchill Downs by 13.5% during the second quarter. Integrated Wealth Concepts LLC now owns 4,948 shares of the company’s stock valued at $444,000 after purchasing an additional 588 shares during the last quarter. Allworth Financial LP boosted its position in shares of Churchill Downs by 5.5% in the 2nd quarter. Allworth Financial LP now owns 9,102 shares of the company’s stock worth $816,000 after purchasing an additional 476 shares in the last quarter. Nykredit A S bought a new stake in shares of Churchill Downs in the 2nd quarter worth approximately $240,000. Finally, Corient Private Wealth LP grew its stake in shares of Churchill Downs by 348.4% in the 2nd quarter. Corient Private Wealth LP now owns 12,740 shares of the company’s stock worth $1,142,000 after buying an additional 9,899 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $82.75 on Friday. Churchill Downs, Incorporated has a twelve month low of $79.40 and a twelve month high of $118.35. The firm has a market cap of $5.77 billion, a P/E ratio of 14.19, a PEG ratio of 0.80 and a beta of 0.67. The company has a 50 day moving average of $87.04 and a 200 day moving average of $88.32. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CHDN. Wells Fargo & Company reduced their price objective on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Weiss Ratings raised Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, July 31st. Wolfe Research started coverage on Churchill Downs in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price target for the company. Finally, Truist Financial set a $145.00 price target on shares of Churchill Downs in a research note on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.89.

Churchill Downs Profile

Churchill Downs Incorporated is a gaming, entertainment and racing company headquartered in Louisville, Kentucky. The company owns and operates Churchill Downs Racetrack, home of the Kentucky Derby, as well as other thoroughbred racing venues, casinos, racinos and historical horse racing facilities.

Its operations include live and historical horse racing, casino gaming, video lottery and other gaming activities, hospitality, dining and entertainment. Through its TwinSpires business, Churchill Downs also provides online horse-racing wagering and related digital betting services in jurisdictions where such activities are permitted.

Founded in 1875, Churchill Downs has expanded from its namesake racetrack into a diversified gaming and entertainment company.