Castleark Management LLC Has $6.09 Million Stock Position in Churchill Downs, Incorporated $CHDN

Castleark Management LLC grew its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 39.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 67,810 shares of the company’s stock after buying an additional 19,240 shares during the period. Castleark Management LLC’s holdings in Churchill Downs were worth $6,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in Churchill Downs by 6,547.6% during the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after purchasing an additional 51,857 shares during the last quarter. UBS Group AG lifted its position in Churchill Downs by 26.9% during the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after purchasing an additional 74,421 shares during the period. M&T Bank Corp bought a new position in shares of Churchill Downs in the 4th quarter valued at about $4,266,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Churchill Downs by 126.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock valued at $5,326,000 after purchasing an additional 26,105 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Churchill Downs by 38.2% during the 1st quarter. Bessemer Group Inc. now owns 46,141 shares of the company’s stock worth $4,145,000 after buying an additional 12,744 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock 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. The stock has a market cap of $6.03 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The stock has a 50-day moving average of $86.77 and a 200-day moving average of $91.12. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.35.

Wall Street Analysts Forecast Growth

CHDN has been the subject of a number of recent research reports. Citizens Jmp boosted 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 note 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 reaffirmed a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. 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. Finally, Mizuho increased their price target on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target 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.