Sanctuary Advisors LLC Makes New $2.26 Million Investment in Churchill Downs, Incorporated $CHDN

Sanctuary Advisors LLC bought a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, Holdings Channel reports. The fund bought 25,217 shares of the company’s stock, valued at approximately $2,260,000.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp increased its holdings in Churchill Downs by 6,547.6% during the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock valued at $5,990,000 after buying an additional 51,857 shares during the period. UBS Group AG lifted its holdings in Churchill Downs by 26.9% during the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after buying an additional 74,421 shares during the period. First Trust Advisors LP lifted its holdings in Churchill Downs by 178.9% during the first quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock worth $6,863,000 after buying an additional 49,002 shares during the period. Aurora Investment Counsel bought a new stake in Churchill Downs during the 2nd quarter valued at $2,265,000. Finally, Edgestream Partners L.P. bought a new stake in Churchill Downs during the 1st quarter valued at $2,598,000. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHDN. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research report on Friday, July 31st. Wells Fargo & Company cut their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Susquehanna boosted their target price on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Mizuho increased their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.88.

Churchill Downs Trading Down 2.2%

Shares of NASDAQ:CHDN opened at $88.67 on Wednesday. The business’s 50-day moving average is $87.25 and its 200 day moving average is $88.76. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The firm has a market capitalization of $6.18 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.86 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same quarter last year, the company earned $3.10 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

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.