Fifth Third Bancorp Has $2.87 Million Stock Position in Churchill Downs, Incorporated $CHDN

Fifth Third Bancorp reduced its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 39.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,939 shares of the company’s stock after selling 20,710 shares during the period. Fifth Third Bancorp’s holdings in Churchill Downs were worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Churchill Downs in the third quarter worth about $25,000. Geneos Wealth Management Inc. grew its holdings in Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the period. Root Financial Partners LLC increased its position in Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Churchill Downs during the fourth quarter worth approximately $38,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $83.71 on Tuesday. The firm has a fifty day moving average of $86.95 and a two-hundred day moving average of $91.95. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.57 and a beta of 0.67. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46. 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 (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of research analyst reports. Wells Fargo & Company cut 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. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Mizuho lifted their price objective on 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 boosted their price objective on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.50.

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.