Impact Partnership Wealth LLC Acquires Shares of 5,899 Churchill Downs, Incorporated $CHDN

Impact Partnership Wealth LLC acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,899 shares of the company’s stock, valued at approximately $530,000.

Other institutional investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Churchill Downs in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its stake in shares of 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 buying an additional 232 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after buying an additional 191 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Churchill Downs during the 4th quarter valued at approximately $38,000. Finally, TFC Financial Management Inc. acquired a new stake in Churchill Downs in the 4th quarter valued at $47,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a report on Friday, June 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $89.15 on Thursday. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.46. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.59 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average price is $89.13 and its 200 day moving average price is $94.63.

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, beating the consensus estimate of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. During the same period in the prior year, the business earned $1.07 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts predict that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

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.