Simplicity Solutions LLC Makes New $449,000 Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Simplicity Solutions LLC bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,328 shares of the company’s stock, valued at approximately $449,000.

Several other large investors have also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its stake in Churchill Downs by 16.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock worth $996,000 after buying an additional 631 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Churchill Downs by 78.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock valued at $152,000 after buying an additional 300 shares during the last quarter. Citigroup Inc. increased its position in Churchill Downs by 24.8% during the 1st quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock valued at $4,845,000 after purchasing an additional 4,345 shares during the period. BlackRock Inc. increased its position in Churchill Downs by 2.2% during the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock valued at $749,830,000 after purchasing an additional 73,505 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Churchill Downs by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock valued at $4,389,000 after purchasing an additional 1,467 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $119.30 on Friday. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $150.45. The company’s 50-day moving average is $119.59 and its 200 day moving average is $120.28. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 8.64 and a beta of 1.03. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company had revenue of $561.20 million for the quarter, compared to the consensus estimate of $553.05 million. During the same period in the prior year, the firm posted $0.73 EPS. Churchill Downs’s revenue for the quarter was up 16.9% on a year-over-year basis. Sell-side analysts expect that Churchill Downs Incorporated will post 5.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CHDN. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $137.00 to $141.00 in a research report on Monday. Finally, Mizuho began coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 target price on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $143.13.

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.