American Century Companies Inc. Cuts Position in Churchill Downs, Incorporated $CHDN

American Century Companies Inc. lessened its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,701 shares of the company’s stock after selling 1,198 shares during the quarter. American Century Companies Inc.’s holdings in Churchill Downs were worth $2,410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Churchill Downs by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,060,846 shares of the company’s stock valued at $141,669,000 after buying an additional 58,507 shares in the last quarter. Jennison Associates LLC grew its holdings in Churchill Downs by 3.0% during the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock valued at $114,496,000 after buying an additional 30,444 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Churchill Downs by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock valued at $68,359,000 after buying an additional 10,108 shares in the last quarter. Northern Trust Corp grew its holdings in Churchill Downs by 20.5% during the 4th quarter. Northern Trust Corp now owns 589,710 shares of the company’s stock valued at $78,750,000 after buying an additional 100,337 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Churchill Downs by 12.7% during the 4th quarter. Baird Financial Group Inc. now owns 573,860 shares of the company’s stock valued at $76,633,000 after buying an additional 64,497 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN stock opened at $103.73 on Monday. Churchill Downs, Incorporated has a 52-week low of $85.58 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $7.27 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.94 and a beta of 0.86. The stock has a 50 day moving average price of $104.68 and a 200 day moving average price of $103.80.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm had revenue of $934.40 million during the quarter, compared to analyst estimates of $924.36 million. During the same period last year, the company earned $2.89 EPS. Churchill Downs’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CHDN shares. Susquehanna raised their price objective on Churchill Downs from $121.00 to $126.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Barclays raised their price objective on Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Mizuho raised their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. JMP Securities lowered their price objective on Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 27th. Finally, Truist Financial lowered their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Buy” and an average price target of $136.50.

About Churchill Downs

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.