California State Teachers Retirement System Decreases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

California State Teachers Retirement System lessened its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,834 shares of the company’s stock after selling 3,578 shares during the period. California State Teachers Retirement System owned 0.10% of Churchill Downs worth $9,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CHDN. Bank of Nova Scotia purchased a new stake in shares of Churchill Downs in the fourth quarter valued at approximately $449,000. Capstone Investment Advisors LLC raised its holdings in shares of Churchill Downs by 193.3% during the 4th quarter. Capstone Investment Advisors LLC now owns 8,504 shares of the company’s stock worth $1,147,000 after acquiring an additional 5,605 shares during the period. Treasurer of the State of North Carolina grew its position in Churchill Downs by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,382 shares of the company’s stock worth $4,369,000 after acquiring an additional 300 shares during the period. Sculati Wealth Management LLC increased its stake in Churchill Downs by 2.8% during the fourth quarter. Sculati Wealth Management LLC now owns 5,175 shares of the company’s stock worth $698,000 after acquiring an additional 140 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in Churchill Downs by 1.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 11,684 shares of the company’s stock valued at $1,577,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.4 %

NASDAQ:CHDN opened at $134.49 on Friday. The stock has a fifty day moving average price of $129.38 and a 200 day moving average price of $124.80. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $141.89. The firm has a market cap of $9.89 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDNGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Churchill Downs Incorporated will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul C. Varga acquired 3,800 shares of Churchill Downs stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHDN. Stifel Nicolaus raised their price objective on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Mizuho lifted their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Truist Financial upped their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, JMP Securities restated a “market outperform” rating and set a $156.00 price target on shares of Churchill Downs in a research report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Get Our Latest Research Report on Churchill Downs

Churchill Downs Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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