AE Wealth Management LLC Grows Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

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AE Wealth Management LLC lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the company’s stock after buying an additional 126 shares during the quarter. AE Wealth Management LLC’s holdings in Churchill Downs were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of Churchill Downs in the 4th quarter worth about $26,000. CWM LLC bought a new stake in Churchill Downs in the fourth quarter valued at about $28,000. Sageworth Trust Co of South Dakota acquired a new position in shares of Churchill Downs in the 4th quarter worth approximately $43,000. Spire Wealth Management increased its holdings in shares of Churchill Downs by 693.3% in the 4th quarter. Spire Wealth Management now owns 238 shares of the company’s stock valued at $57,000 after acquiring an additional 208 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Churchill Downs during the 4th quarter valued at approximately $62,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

CHDN has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $272.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. StockNews.com initiated coverage on shares of Churchill Downs in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.33.

Shares of NASDAQ:CHDN opened at $194.72 on Tuesday. The firm’s 50 day moving average is $193.81 and its two-hundred day moving average is $209.85. The firm has a market capitalization of $7.40 billion, a P/E ratio of 29.87, a PEG ratio of 1.47 and a beta of 1.12. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 6.17. Churchill Downs Incorporated has a 52 week low of $172.75 and a 52 week high of $262.20.

Churchill Downs (NASDAQ:CHDNGet Rating) last posted its earnings results on Wednesday, April 27th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.13 by $0.05. Churchill Downs had a return on equity of 87.26% and a net margin of 15.58%. The firm had revenue of $364.10 million for the quarter, compared to analysts’ expectations of $345.02 million. During the same period last year, the firm earned $0.87 EPS. Analysts predict that Churchill Downs Incorporated will post 8.22 EPS for the current year.

Churchill Downs Profile (Get Rating)

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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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