Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,521 shares of the company’s stock after buying an additional 47,269 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.58% of Churchill Downs worth $52,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wintrust Investments LLC lifted its position in shares of Churchill Downs by 14.6% during the 1st quarter. Wintrust Investments LLC now owns 18,873 shares of the company’s stock valued at $2,335,000 after buying an additional 2,403 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Churchill Downs by 7.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 35,085 shares of the company’s stock valued at $4,342,000 after buying an additional 2,423 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Churchill Downs during the 1st quarter valued at approximately $240,000. Bleakley Financial Group LLC lifted its position in shares of Churchill Downs by 8.1% during the 1st quarter. Bleakley Financial Group LLC now owns 3,626 shares of the company’s stock valued at $449,000 after buying an additional 272 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Churchill Downs by 29.0% during the 1st quarter. Sei Investments Co. now owns 36,100 shares of the company’s stock valued at $4,468,000 after buying an additional 8,116 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.2 %

Shares of NASDAQ:CHDN traded down $0.26 during midday trading on Friday, reaching $140.11. 445,226 shares of the company’s stock were exchanged, compared to its average volume of 501,917. The firm’s 50 day simple moving average is $136.91 and its two-hundred day simple moving average is $127.67. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 3.10 and a beta of 0.97. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results 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 return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the business posted $0.98 EPS. Churchill Downs’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Churchill Downs Incorporated will post 6.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Mizuho increased their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Truist Financial increased their price objective on Churchill Downs from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities increased their price objective on Churchill Downs from $156.00 to $158.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.33.

Insider Activity at Churchill Downs

In other news, Director Paul C. Varga bought 3,800 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is currently owned by company insiders.

Churchill Downs Profile

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.