Churchill Downs, Incorporated $CHDN Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 12.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,335 shares of the company’s stock after purchasing an additional 15,141 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Churchill Downs worth $12,067,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Churchill Downs by 4.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after buying an additional 118 shares in the last quarter. Sanctuary Advisors LLC raised its stake 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 valued at $2,479,000 after purchasing an additional 125 shares in the last quarter. Nebula Research & Development LLC raised its stake in Churchill Downs by 4.8% during the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after buying an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Churchill Downs by 7.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock valued at $285,000 after acquiring an additional 169 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Churchill Downs by 5.5% during the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock worth $327,000 after purchasing an additional 177 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Churchill Downs stock opened at $86.50 on Friday. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.35. The business has a 50-day moving average of $86.77 and a 200-day moving average of $91.28. The firm has a market capitalization of $6.03 billion, a P/E ratio of 16.02, a PEG ratio of 0.54 and a beta of 0.67. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.50.

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.