Cerity Partners LLC Acquires 3,887 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Cerity Partners LLC grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 51,037 shares of the company’s stock after buying an additional 3,887 shares during the quarter. Cerity Partners LLC’s holdings in Churchill Downs were worth $6,886,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock valued at $2,657,000 after purchasing an additional 10,868 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Churchill Downs by 34.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after purchasing an additional 38,298 shares during the period. Vanguard Group Inc. boosted its position in shares of Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after purchasing an additional 56,318 shares in the last quarter. Fifth Third Bancorp grew its stake in Churchill Downs by 15.1% in the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Churchill Downs by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $122.19 on Tuesday. The stock has a 50-day simple moving average of $119.62 and a two-hundred day simple moving average of $120.23. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $150.45. The firm has a market capitalization of $9.00 billion, a PE ratio of 22.40 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. The company had revenue of $561.20 million for the quarter, compared to analysts’ expectations of $553.05 million. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. Analysts forecast that Churchill Downs Incorporated will post 5.5 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Mizuho initiated coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $137.00 to $141.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.13.

Churchill Downs Company Profile

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. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.