Norges Bank Makes New $90.53 Million Investment in Churchill Downs, Incorporated $CHDN

Norges Bank acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 795,647 shares of the company’s stock, valued at approximately $90,529,000. Norges Bank owned approximately 1.14% of Churchill Downs at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its position in Churchill Downs by 29.8% during the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after acquiring an additional 784 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Churchill Downs by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after acquiring an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Churchill Downs by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock worth $25,080,000 after acquiring an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Churchill Downs during the 2nd quarter worth approximately $229,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $86.92 on Friday. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The company 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 business has a 50 day simple moving average of $89.63 and a 200-day simple moving average of $97.39.

Churchill Downs (NASDAQ:CHDN) last issued 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 the consensus estimate of $659.32 million. During the same period in the previous year, the business earned $1.07 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHDN has been the topic of several analyst reports. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Mizuho lifted their price objective on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Wells Fargo & Company restated an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Finally, Citizens Jmp lifted their price objective on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

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.