Bessemer Group Inc. Boosts Stake in Churchill Downs, Incorporated $CHDN

Bessemer Group Inc. grew its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 38.2% in the 1st quarter, Holdings Channel reports. The fund owned 46,141 shares of the company’s stock after acquiring an additional 12,744 shares during the period. Bessemer Group Inc.’s holdings in Churchill Downs were worth $4,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Twin Capital Management Inc. purchased a new stake in Churchill Downs during the 1st quarter worth approximately $1,027,000. Sanctuary Advisors LLC boosted its stake in shares of Churchill Downs by 0.5% during the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock valued at $2,479,000 after buying an additional 125 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Churchill Downs by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 15,980 shares of the company’s stock valued at $1,435,000 after buying an additional 300 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Churchill Downs by 4.9% during the first quarter. Principal Financial Group Inc. now owns 148,969 shares of the company’s stock worth $13,382,000 after buying an additional 6,916 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Churchill Downs during the first quarter worth approximately $290,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 0.3%

CHDN stock opened at $83.71 on Tuesday. The firm has a market cap 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 1-year low of $80.24 and a 1-year high of $118.46. The firm has a fifty day moving average price of $86.95 and a two-hundred day moving average price of $91.95. 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 (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. During the same period last year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Wells Fargo & Company dropped their target price 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. Citizens Jmp increased their price target 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. Finally, Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

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.