EULAV Asset Management Lowers Stock Position in Churchill Downs, Incorporated $CHDN

EULAV Asset Management reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,862 shares of the company’s stock after selling 60,400 shares during the quarter. EULAV Asset Management owned about 0.30% of Churchill Downs worth $23,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CHDN. Measured Wealth Private Client Group LLC purchased a new stake in Churchill Downs in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. TFC Financial Management Inc. bought a new position in Churchill Downs during the fourth quarter valued at approximately $47,000. Parallel Advisors LLC grew its position in Churchill Downs by 167.7% during the fourth quarter. Parallel Advisors LLC now owns 415 shares of the company’s stock valued at $47,000 after acquiring an additional 260 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Churchill Downs by 62.7% during the third quarter. UMB Bank n.a. now owns 550 shares of the company’s stock valued at $53,000 after acquiring an additional 212 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 0.9%

Shares of Churchill Downs stock opened at $86.92 on Friday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 0.57 and a beta of 0.68. The company’s 50 day moving average price is $89.63 and its 200-day moving average price is $97.39.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The firm had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of recent research reports. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Mizuho increased their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Citizens Jmp increased their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.00.

About Churchill Downs

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.