Westfield Capital Management Co. LP Has $38.48 Million Stock Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Westfield Capital Management Co. LP lowered its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 61.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 346,452 shares of the company’s stock after selling 547,757 shares during the period. Westfield Capital Management Co. LP owned about 0.48% of Churchill Downs worth $38,480,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock worth $46,000 after buying an additional 253 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Churchill Downs by 39.6% during the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock worth $51,000 after buying an additional 129 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Churchill Downs by 154.9% during the 1st quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after buying an additional 330 shares in the last quarter. Covestor Ltd raised its holdings in shares of Churchill Downs by 46.8% during the 4th quarter. Covestor Ltd now owns 929 shares of the company’s stock worth $124,000 after buying an additional 296 shares in the last quarter. Finally, Ossiam raised its holdings in shares of Churchill Downs by 2,292.7% during the 4th quarter. Ossiam now owns 1,962 shares of the company’s stock worth $262,000 after buying an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Douglas C. Grissom bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the transaction, the director directly owned 38,869 shares in the company, valued at approximately $3,605,877.13. This trade represents a 34.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.34% of the stock is currently owned by insiders.

Churchill Downs Trading Down 1.8%

Shares of CHDN stock opened at $104.51 on Tuesday. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.99 and a beta of 0.95. The stock has a 50-day moving average of $102.44 and a 200-day moving average of $106.58. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.07. The company had revenue of $934.40 million during the quarter, compared to analysts’ expectations of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.89 earnings per share. On average, equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Barclays upped their target price on Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Jefferies Financial Group lowered their target price on Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a report on Friday, April 25th. Stifel Nicolaus upped their target price on Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. assumed coverage on Churchill Downs in a report on Monday, June 23rd. They issued an “overweight” rating and a $116.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.18.

Churchill Downs Profile

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; casino gaming; and Terre Haute Casino Resort.