Churchill Downs, Incorporated $CHDN Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC boosted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 11.8% during the first quarter, HoldingsChannel.com reports. The firm owned 148,800 shares of the company’s stock after purchasing an additional 15,700 shares during the period. Gabelli Funds LLC’s holdings in Churchill Downs were worth $13,367,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Churchill Downs during the 3rd quarter valued at approximately $25,000. 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. Root Financial Partners LLC grew its stake in Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Churchill Downs in the 4th quarter valued at $38,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHDN has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. 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. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Mizuho upped their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Nine 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $86.50 on Monday. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.35. The firm has a market capitalization of $6.03 billion, a PE ratio of 16.02, a P/E/G ratio of 0.56 and a beta of 0.67. The business’s 50 day moving average price is $86.77 and its 200-day moving average price is $91.12.

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.