New Wave Wealth Advisors LLC Acquires 9,069 Shares of Churchill Downs, Incorporated $CHDN

by · The Cerbat Gem

New Wave Wealth Advisors LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,069 shares of the company’s stock, valued at approximately $735,000.

Several other institutional investors have also added to or reduced their stakes in CHDN. Sanctuary Advisors LLC raised its holdings in shares of Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock worth $2,479,000 after purchasing an additional 125 shares during the period. Atlas Brown Inc. lifted its stake in Churchill Downs by 4.7% in the third quarter. Atlas Brown Inc. now owns 3,351 shares of the company’s stock valued at $254,000 after purchasing an additional 150 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Churchill Downs by 6.4% in the second quarter. Concurrent Investment Advisors LLC now owns 3,610 shares of the company’s stock valued at $324,000 after purchasing an additional 217 shares during the last quarter. Essential Partners LLC grew its holdings in Churchill Downs by 64.7% during the first quarter. Essential Partners LLC now owns 578 shares of the company’s stock valued at $52,000 after purchasing an additional 227 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Churchill Downs by 19.6% during the third quarter. GAMMA Investing LLC now owns 1,383 shares of the company’s stock valued at $105,000 after purchasing an additional 227 shares during the period. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHDN shares. Wolfe Research began coverage on Churchill Downs in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 target price for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price target (up from $117.00) on shares of Churchill Downs in a research note on Monday. Susquehanna increased their price target on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Finally, Citigroup restated a “market outperform” rating on shares of Churchill Downs in a research note on Tuesday, October 13th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.89.

Read Our Latest Research Report on CHDN

Churchill Downs Stock Performance

Shares of NASDAQ CHDN traded up $0.07 during midday trading on Monday, hitting $81.77. The company’s stock had a trading volume of 284,853 shares, compared to its average volume of 1,005,461. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.78 and a beta of 0.77. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a fifty day moving average price of $83.79 and a 200 day moving average price of $86.74. Churchill Downs, Incorporated has a one year low of $73.08 and a one year high of $118.35.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same period last year, the firm earned $3.10 EPS. Churchill Downs’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts forecast that Churchill Downs, Incorporated will post 7.05 EPS for the current fiscal year.

Churchill Downs Company Profile

(Free Report)

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.

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