Public Employees Retirement System of Ohio Has $2.09 Million Position in Churchill Downs, Incorporated $CHDN

Public Employees Retirement System of Ohio lessened its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,708 shares of the company’s stock after selling 1,241 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Churchill Downs were worth $2,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Churchill Downs by 3.0% in the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock valued at $114,496,000 after purchasing an additional 30,444 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Churchill Downs by 1.7% in 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 during the last quarter. Baird Financial Group Inc. raised its holdings in Churchill Downs by 5.1% during the 1st quarter. Baird Financial Group Inc. now owns 602,849 shares of the company’s stock worth $66,958,000 after purchasing an additional 28,989 shares during the last quarter. Millennium Management LLC raised its holdings in Churchill Downs by 107.4% during the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company’s stock worth $60,919,000 after purchasing an additional 284,045 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Churchill Downs by 28,864.9% during the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company’s stock worth $56,879,000 after purchasing an additional 510,331 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHDN. Mizuho lifted their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Susquehanna boosted 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. Stifel Nicolaus upped their price target on Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Truist Financial cut their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an “overweight” rating and a $116.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Churchill Downs has a consensus rating of “Buy” and an average target price of $136.50.

Churchill Downs Price Performance

CHDN opened at $96.02 on Friday. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83. The stock has a fifty day simple moving average of $101.46 and a two-hundred day simple moving average of $101.19. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 23rd. The company reported $3.10 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 for the quarter, compared to analysts’ expectations of $924.36 million. During the same period in the prior year, the firm posted $2.89 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

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.