Geode Capital Management LLC Acquires 32,445 Shares of Churchill Downs, Incorporated $CHDN

Geode Capital Management LLC grew its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,327,655 shares of the company’s stock after acquiring an additional 32,445 shares during the quarter. Geode Capital Management LLC owned 1.90% of Churchill Downs worth $151,089,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CHDN. AQR Capital Management LLC boosted its position in shares of Churchill Downs by 29.8% in the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after acquiring an additional 784 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after acquiring an additional 121,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Churchill Downs by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after acquiring an additional 15,161 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Churchill Downs in the second quarter valued at about $229,000. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Citizens Jmp boosted their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Mizuho boosted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Stock Up 0.2%

CHDN stock opened at $86.16 on Friday. The company has a market cap of $6.01 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The business has a 50-day simple moving average of $89.64 and a 200 day simple moving average of $97.47. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The business had revenue of $663.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Sell-side analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Churchill Downs Company 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.