Teacher Retirement System of Texas Purchases 1,774 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

Teacher Retirement System of Texas grew its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 19.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,970 shares of the company’s stock after purchasing an additional 1,774 shares during the quarter. Teacher Retirement System of Texas’ holdings in Churchill Downs were worth $1,218,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA increased its position in shares of Churchill Downs by 154.9% during the 1st quarter. Private Trust Co. NA now owns 543 shares of the company’s stock valued at $60,000 after purchasing an additional 330 shares during the last quarter. Skylands Capital LLC bought a new position in shares of Churchill Downs during the 1st quarter valued at about $672,000. KBC Group NV increased its position in shares of Churchill Downs by 14.3% during the 1st quarter. KBC Group NV now owns 2,904 shares of the company’s stock valued at $323,000 after purchasing an additional 363 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Churchill Downs by 78.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,951 shares of the company’s stock valued at $1,438,000 after purchasing an additional 5,683 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Churchill Downs during the 1st quarter valued at about $8,677,000. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CHDN has been the topic of several recent research reports. Truist Financial reduced their price objective on Churchill Downs from $162.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus increased their target price on Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Macquarie dropped their target price on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, JMP Securities dropped their target price on Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating for the company in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.09.

Churchill Downs Trading Down 0.9%

NASDAQ CHDN opened at $105.80 on Friday. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The stock has a market cap of $7.64 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. The stock has a 50 day simple moving average of $98.37 and a two-hundred day simple moving average of $109.21. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.53 and a current ratio of 0.53.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 40.73% and a net margin of 15.19%. The firm had revenue of $642.60 million during the quarter, compared to the consensus estimate of $649.68 million. During the same period in the prior year, the company posted $1.13 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Douglas C. Grissom purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the purchase, the director directly owned 38,869 shares in the company, valued at approximately $3,605,877.13. This represents a 34.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R Alex Rankin purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the completion of the purchase, the director owned 99,012 shares in the company, valued at approximately $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by company insiders.

Churchill Downs 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; casino gaming; and Terre Haute Casino Resort.