Northwestern Mutual Wealth Management Co. Has $1.59 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Northwestern Mutual Wealth Management Co. cut its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,372 shares of the company’s stock after selling 1,872 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Churchill Downs were worth $1,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new position in shares of Churchill Downs in the second quarter worth $125,418,000. Balyasny Asset Management L.P. increased its holdings in Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after buying an additional 246,769 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after buying an additional 193,914 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Churchill Downs during the 2nd quarter worth approximately $26,384,000. Finally, Capital International Investors boosted its position in shares of Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after acquiring an additional 177,900 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHDN has been the subject of several research analyst reports. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. JMP Securities raised their price objective on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group boosted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Macquarie raised their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Stock Up 0.7 %

Shares of NASDAQ CHDN opened at $137.53 on Friday. The firm has a market cap of $10.11 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a 50 day simple moving average of $137.37 and a 200 day simple moving average of $134.06. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts forecast that Churchill Downs Incorporated will post 6.13 EPS for the current 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; and casino gaming.