Intech Investment Management LLC Raises Stake in Churchill Downs, Incorporated $CHDN

Intech Investment Management LLC lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 827.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 38,049 shares of the company’s stock after purchasing an additional 33,946 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Churchill Downs worth $4,329,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Churchill Downs by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Churchill Downs by 1,028.1% during the 4th quarter. Hantz Financial Services Inc. now owns 7,152 shares of the company’s stock worth $814,000 after purchasing an additional 6,518 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Churchill Downs by 12.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,145,413 shares of the company’s stock worth $130,325,000 after purchasing an additional 127,687 shares during the period. Beck Bode LLC purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $17,621,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $1,919,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CHDN shares. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Finally, Citizens Jmp boosted their price target on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

Churchill Downs Stock Performance

Churchill Downs stock opened at $87.21 on Monday. The stock’s 50 day moving average price is $89.49 and its 200 day moving average price is $97.81. The firm has a market capitalization of $6.08 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.58 and a beta of 0.68. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.06 by $0.15. The firm had revenue of $663.00 million for the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.Churchill Downs’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Churchill Downs Profile

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.