Beck Bode LLC Invests $17.62 Million in Churchill Downs, Incorporated $CHDN

Beck Bode LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 154,871 shares of the company’s stock, valued at approximately $17,621,000. Churchill Downs comprises 2.9% of Beck Bode LLC’s portfolio, making the stock its 13th largest position.

Other large investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in Churchill Downs in the third quarter valued at $25,000. Geneos Wealth Management Inc. raised its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Churchill Downs in the third quarter valued at $45,000. TFC Financial Management Inc. acquired a new stake in Churchill Downs in the fourth quarter valued at $47,000. Finally, UMB Bank n.a. raised its stake in Churchill Downs by 62.7% in the third quarter. UMB Bank n.a. now owns 550 shares of the company’s stock valued at $53,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $85.12 on Friday. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.73. The firm has a 50-day simple moving average of $89.44 and a 200-day simple moving average of $98.24. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho raised their price target on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Wells Fargo & Company restated an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

About Churchill Downs

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.