Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,304 shares of the company’s stock after purchasing an additional 1,050 shares during the quarter. Independence Bank of Kentucky’s holdings in Churchill Downs were worth $1,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Churchill Downs by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,467 shares of the company’s stock worth $1,952,000 after acquiring an additional 1,142 shares during the period. GAMMA Investing LLC bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $66,000. Yousif Capital Management LLC grew its stake in Churchill Downs by 1.8% during the 4th quarter. Yousif Capital Management LLC now owns 21,351 shares of the company’s stock worth $2,881,000 after buying an additional 375 shares during the last quarter. K.J. Harrison & Partners Inc increased its position in Churchill Downs by 2.3% in the fourth quarter. K.J. Harrison & Partners Inc now owns 15,350 shares of the company’s stock worth $2,071,000 after buying an additional 350 shares during the period. Finally, Consolidated Planning Corp bought a new stake in Churchill Downs in the fourth quarter valued at $209,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

CHDN has been the topic of a number of analyst reports. Macquarie increased their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Stifel Nicolaus increased their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $155.00 in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Trading Up 1.0 %

CHDN traded up $1.37 during trading on Friday, reaching $138.24. The company had a trading volume of 239,049 shares, compared to its average volume of 433,183. The firm’s 50-day simple moving average is $138.74 and its 200 day simple moving average is $130.08. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.34 and a beta of 0.97. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $890.70 million for the quarter, compared to the consensus estimate of $858.59 million. During the same period last year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Churchill Downs Incorporated will post 6.11 earnings per share for the current year.

About Churchill Downs

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.