WCM Investment Management LLC Has $16.13 Million Stake in Churchill Downs, Incorporated $CHDN

WCM Investment Management LLC reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,148 shares of the company’s stock after selling 35,565 shares during the period. WCM Investment Management LLC owned 0.24% of Churchill Downs worth $16,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. First Horizon Corp bought a new position in shares of Churchill Downs during the third quarter worth about $26,000. Quent Capital LLC bought a new position in Churchill Downs during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its holdings in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Churchill Downs by 1,670.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock worth $29,000 after purchasing an additional 284 shares during the period. Finally, MAI Capital Management boosted its stake in shares of Churchill Downs by 306.9% in the 2nd quarter. MAI Capital Management now owns 293 shares of the company’s stock valued at $30,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $94.17 on Wednesday. The business has a 50-day simple moving average of $109.58 and a 200 day simple moving average of $103.52. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $125.87. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.42 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CHDN shares. Macquarie reissued an “outperform” rating and set a $155.00 target price on shares of Churchill Downs in a research note on Friday, October 24th. Barclays increased their price target on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price objective on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $125.00 target price (up previously from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $135.36.

Churchill Downs Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.