9,460 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,460 shares of the company’s stock, valued at approximately $1,321,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHDN. BNP Paribas Financial Markets grew its holdings in shares of Churchill Downs by 19.8% during the fourth quarter. BNP Paribas Financial Markets now owns 4,149 shares of the company’s stock worth $560,000 after purchasing an additional 686 shares during the last quarter. Wells Fargo & Company MN increased its position in Churchill Downs by 57.1% in the 4th quarter. Wells Fargo & Company MN now owns 156,226 shares of the company’s stock valued at $21,080,000 after acquiring an additional 56,813 shares during the period. Corient Private Wealth LLC raised its stake in shares of Churchill Downs by 65.2% during the fourth quarter. Corient Private Wealth LLC now owns 7,153 shares of the company’s stock valued at $965,000 after acquiring an additional 2,822 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Churchill Downs by 44.8% during the fourth quarter. US Bancorp DE now owns 6,338 shares of the company’s stock worth $855,000 after purchasing an additional 1,962 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CHDN shares. Stifel Nicolaus lifted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Mizuho increased their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Wells Fargo & Company increased their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

Churchill Downs Stock Down 2.9 %

Churchill Downs stock opened at $133.25 on Wednesday. The company has a market capitalization of $9.79 billion, a PE ratio of 29.68, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $146.64. The firm’s fifty day moving average is $138.23 and its 200 day moving average is $133.19. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.24 earnings per share. As a group, sell-side analysts predict that Churchill Downs Incorporated will post 6.17 EPS for the current fiscal year.

Churchill Downs Company 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; and casino gaming.