Dockside LLC Invests $905,000 in Churchill Downs, Incorporated $CHDN

Dockside LLC bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the fourth quarter, HoldingsChannel reports. The fund bought 7,955 shares of the company’s stock, valued at approximately $905,000.

A number of other hedge funds have also modified their holdings of the business. Capital International Investors grew its position in shares of Churchill Downs by 16.3% during the third quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock worth $300,595,000 after acquiring an additional 434,669 shares during the last quarter. State Street Corp lifted its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after purchasing an additional 11,523 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after purchasing an additional 7,687 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Churchill Downs by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares during the period. Finally, Boston Partners lifted its holdings in shares of Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock worth $121,998,000 after purchasing an additional 11,653 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citizens Jmp increased their price target on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Mizuho increased their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Truist Financial set a $145.00 price target on Churchill Downs in a report on Friday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $86.94 on Monday. The company has a market capitalization of $6.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. 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 52-week low of $80.24 and a 52-week high of $118.46. The stock has a fifty day simple moving average of $89.66 and a 200-day simple moving average of $96.77.

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

Churchill Downs 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.