Churchill Downs, Incorporated $CHDN Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC grew its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 146.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 610,465 shares of the company’s stock after purchasing an additional 362,369 shares during the quarter. Clearbridge Investments LLC owned approximately 0.88% of Churchill Downs worth $69,459,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp grew its position in shares of Churchill Downs by 6,547.6% in the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock valued at $5,990,000 after purchasing an additional 51,857 shares during the period. JPMorgan Chase & Co. grew its position in shares of Churchill Downs by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock valued at $21,326,000 after purchasing an additional 16,646 shares during the period. UBS Group AG grew its position in shares of Churchill Downs by 26.9% in the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after purchasing an additional 74,421 shares during the period. Fieldview Capital Management LLC acquired a new stake in shares of Churchill Downs in the third quarter valued at about $3,869,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Churchill Downs in the third quarter valued at about $1,158,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $86.84 on Tuesday. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.57 and a beta of 0.68. The company’s 50-day moving average is $89.61 and its two-hundred day moving average is $97.25. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46.

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

Analyst Ratings Changes

CHDN has been the topic of a number of recent research reports. Wells Fargo & Company restated an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Mizuho boosted their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp boosted their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

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.