TCI Wealth Advisors Inc. Invests $203,000 in Churchill Downs Incorporated (NASDAQ:CHDN)

TCI Wealth Advisors Inc. purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,503 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC purchased a new position in Churchill Downs during the fourth quarter worth about $11,277,000. M&T Bank Corp lifted its holdings in Churchill Downs by 5.2% during the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after buying an additional 118 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Churchill Downs in the 4th quarter valued at about $39,000. SRS Capital Advisors Inc. increased its stake in shares of Churchill Downs by 10.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,114 shares of the company’s stock worth $285,000 after buying an additional 198 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Churchill Downs by 2.2% during the 4th quarter. Victory Capital Management Inc. now owns 28,996 shares of the company’s stock worth $3,912,000 after purchasing an additional 634 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Paul C. Varga acquired 3,800 shares of Churchill Downs stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $130.22 per share, with a total value of $494,836.00. Following the purchase, the director now directly owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHDN. JMP Securities restated a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a report on Monday. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Mizuho raised their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Churchill Downs Trading Up 1.5 %

Shares of NASDAQ:CHDN traded up $1.98 during midday trading on Monday, reaching $136.00. The company’s stock had a trading volume of 356,569 shares, compared to its average volume of 401,399. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 3.81 and a beta of 0.99. The business has a 50 day moving average price of $121.21 and a 200 day moving average price of $121.56. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $148.36. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same quarter in the prior year, the company posted $0.98 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts forecast that Churchill Downs Incorporated will post 5.72 EPS for the current 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; and casino gaming.