Cerity Partners LLC Purchases 3,887 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Cerity Partners LLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,037 shares of the company’s stock after acquiring an additional 3,887 shares during the quarter. Cerity Partners LLC owned 0.07% of Churchill Downs worth $6,886,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC increased its stake in shares of Churchill Downs by 181.3% in the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after purchasing an additional 145 shares during the last quarter. Castleview Partners LLC bought a new position in Churchill Downs in the second quarter valued at about $38,000. Rockefeller Capital Management L.P. raised its stake in Churchill Downs by 174.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after acquiring an additional 180 shares in the last quarter. Ossiam lifted its holdings in shares of Churchill Downs by 5,012.5% in the first quarter. Ossiam now owns 409 shares of the company’s stock worth $105,000 after acquiring an additional 401 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Churchill Downs by 28.9% in the 2nd quarter. Harbour Investments Inc. now owns 459 shares of the company’s stock valued at $64,000 after purchasing an additional 103 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHDN shares. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $137.00 to $141.00 in a research note on Monday. Mizuho began coverage on Churchill Downs in a report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.13.

Churchill Downs Stock Up 1.2 %

Shares of CHDN opened at $122.19 on Tuesday. The stock’s 50-day moving average price is $119.62 and its two-hundred day moving average price is $120.23. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45. The company has a market capitalization of $9.00 billion, a PE ratio of 22.40 and a beta of 1.03. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. On average, analysts anticipate that Churchill Downs Incorporated will post 5.5 EPS for the current year.

Churchill Downs Company 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.