SG Americas Securities LLC Boosts Holdings in Churchill Downs, Incorporated $CHDN

SG Americas Securities LLC lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 380.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,119 shares of the company’s stock after buying an additional 32,560 shares during the period. SG Americas Securities LLC owned approximately 0.06% of Churchill Downs worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Churchill Downs in the third quarter valued at $25,000. Parkside Financial Bank & Trust lifted its stake in shares of Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Churchill Downs during the 4th quarter worth $38,000. Finally, TFC Financial Management Inc. purchased a new position in shares of Churchill Downs during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $90.87 on Tuesday. The firm has a 50 day moving average of $89.26 and a two-hundred day moving average of $94.99. The stock has a market capitalization of $6.33 billion, a PE ratio of 16.83, a P/E/G ratio of 0.59 and a beta of 0.68. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHDN. Wells Fargo & Company reissued an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research note on Friday, June 12th. Mizuho upped their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Citizens Jmp increased their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average 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.