Columbia Asset Management Buys Shares of 5,270 Churchill Downs, Incorporated $CHDN

Columbia Asset Management purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,270 shares of the company’s stock, valued at approximately $511,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Horizon Corp acquired a new stake in Churchill Downs in the third quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of Churchill Downs in the third quarter worth about $27,000. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Churchill Downs by 1,670.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after purchasing an additional 284 shares during the last quarter. Finally, MAI Capital Management increased its position in Churchill Downs by 306.9% during the 2nd quarter. MAI Capital Management now owns 293 shares of the company’s stock worth $30,000 after purchasing an additional 221 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CHDN shares. JPMorgan Chase & Co. cut their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Macquarie reiterated an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Citizens Jmp upped their target price on Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Finally, Susquehanna reissued a “positive” rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.36.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $98.36 on Friday. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.46 and a beta of 0.68. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $125.87. The stock has a fifty day simple moving average of $110.06 and a 200 day simple moving average of $103.69.

Churchill Downs Company 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.