795,647 Shares in Churchill Downs, Incorporated $CHDN Bought by Norges Bank

Norges Bank acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 795,647 shares of the company’s stock, valued at approximately $90,529,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. grew its stake in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares in the last quarter. TFC Financial Management Inc. bought a new position in shares of Churchill Downs in the fourth quarter worth $47,000. UMB Bank n.a. boosted its stake in Churchill Downs by 62.7% during 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. Finally, Hantz Financial Services Inc. boosted its stake in Churchill Downs by 35.2% during the third quarter. Hantz Financial Services Inc. now owns 634 shares of the company’s stock valued at $62,000 after buying an additional 165 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Trading Up 0.9%

NASDAQ:CHDN opened at $86.92 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The stock has a fifty day simple moving average of $89.63 and a 200 day simple moving average of $97.39.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. During the same quarter last year, the company posted $1.07 EPS. Churchill Downs’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently 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. Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Mizuho raised their target price on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Finally, Citizens Jmp raised their target price on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company 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.