The Manufacturers Life Insurance Company purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 48,728 shares of the company's stock, valued at approximately $4,368,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Churchill Downs as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CHDN. BlackRock Inc. purchased a new position in shares of Churchill Downs in the 2nd quarter worth about $555,948,000. State Street Corp raised its holdings in shares of Churchill Downs by 0.6% during the 4th quarter. State Street Corp now owns 1,956,295 shares of the company's stock valued at $223,424,000 after buying an additional 11,523 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company's stock worth $157,482,000 after buying an additional 7,687 shares during the last quarter. Geode Capital Management LLC lifted its position in Churchill Downs by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company's stock worth $151,089,000 after buying an additional 32,445 shares during the last quarter. Finally, Boston Partners boosted its stake in Churchill Downs by 0.9% in the third quarter. Boston Partners now owns 1,257,725 shares of the company's stock worth $121,998,000 after buying an additional 11,653 shares in 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. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research note on Friday, July 31st. Citizens Jmp reduced their target price on shares of Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating on the stock in a report on Friday, July 31st. Susquehanna lifted their target price on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a "positive" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Churchill Downs in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $136.88.
Read Our Latest Analysis on Churchill Downs
Churchill Downs Stock Performance
NASDAQ:CHDN opened at $87.48 on Tuesday. The stock has a market cap of $6.10 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.85 and a beta of 0.68. The firm's fifty day simple moving average is $87.27 and its 200 day simple moving average is $88.57. Churchill Downs, Incorporated has a twelve month low of $79.40 and a twelve month high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. During the same period in the previous year, the firm earned $3.10 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.
Churchill Downs Company Profile
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Free Report)
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.
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