Independence Bank of Kentucky Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Independence Bank of Kentucky boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,790 shares of the company’s stock after buying an additional 1,120 shares during the period. Independence Bank of Kentucky’s holdings in Churchill Downs were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CHDN. Belpointe Asset Management LLC grew its position in Churchill Downs by 181.3% in the first quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock worth $58,000 after acquiring an additional 145 shares in the last quarter. Castleview Partners LLC purchased a new position in Churchill Downs in the second quarter worth $38,000. Rockefeller Capital Management L.P. grew its position in Churchill Downs by 174.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after acquiring an additional 180 shares in the last quarter. Vestor Capital LLC boosted its position in Churchill Downs by 100.0% during the second quarter. Vestor Capital LLC now owns 332 shares of the company’s stock valued at $46,000 after buying an additional 166 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Churchill Downs during the second quarter valued at about $51,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHDN has been the subject of several analyst reports. Wells Fargo & Company lowered shares of Churchill Downs from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $135.00 to $137.00 in a research report on Friday, January 5th. JMP Securities upped their price target on shares of Churchill Downs from $148.00 to $150.00 and gave the company a “market outperform” rating in a research report on Friday, February 23rd. Finally, Mizuho initiated coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.63.

Check Out Our Latest Research Report on CHDN

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $124.52 on Thursday. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 22.83 and a beta of 1.03. The company has a 50-day moving average price of $119.54 and a 200-day moving average price of $119.87. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45.

Churchill Downs (NASDAQ:CHDNGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. The firm had revenue of $561.20 million during the quarter, compared to the consensus estimate of $553.05 million. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.44 EPS for the current year.

Churchill Downs Profile

(Free Report)

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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