Public Employees Retirement Association of Colorado Reduces Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Public Employees Retirement Association of Colorado decreased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,237 shares of the company’s stock after selling 260 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Churchill Downs were worth $1,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. UMB Bank n.a. grew its holdings in shares of Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Churchill Downs during the 1st quarter worth approximately $44,000. CWM LLC raised its position in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the period. Bank & Trust Co acquired a new position in Churchill Downs in the second quarter valued at approximately $84,000. Finally, GAMMA Investing LLC increased its stake in Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Down 2.9 %

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

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

Wall Street Analyst Weigh In

CHDN has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $166.00 price target (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Macquarie increased their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Mizuho increased their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their target price on Churchill Downs from $150.00 to $161.00 and gave the company 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $156.90.

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; and casino gaming.