Boston Partners Has $194.31 Million Stock Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Key Points

• Boston Partners reduced its stake in Churchill Downs, Incorporated by 2.5%, now holding approximately 1.75 million shares worth $194.31 million as of the latest SEC filing.
• Churchill Downs saw significant investment interest from other institutional investors, with several firms increasing their stakes by over 150% during the first quarter.
• Analysts have generally positive outlooks on Churchill Downs, with the stock receiving a consensus rating of "Moderate Buy" and a target price averaging $136.50.

Boston Partners reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,749,767 shares of the company's stock after selling 44,863 shares during the period. Boston Partners owned 2.42% of Churchill Downs worth $194,311,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after purchasing an additional 253 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after purchasing an additional 129 shares during the last quarter. Private Trust Co. NA boosted its holdings in Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company's stock worth $60,000 after purchasing an additional 330 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Churchill Downs by 181.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock worth $62,000 after buying an additional 361 shares during the last quarter. Finally, Ossiam increased its position in Churchill Downs by 2,292.7% during the fourth quarter. Ossiam now owns 1,962 shares of the company's stock worth $262,000 after buying an additional 1,880 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

NASDAQ CHDN traded down $1.00 during trading on Friday, hitting $102.58. The company's stock had a trading volume of 627,722 shares, compared to its average volume of 653,546. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a 50 day moving average price of $103.74 and a 200 day moving average price of $105.26. The firm has a market cap of $7.19 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter last year, the company posted $2.89 earnings per share. Churchill Downs's quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CHDN. Truist Financial reduced their price target on Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Jefferies Financial Group cut their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Stifel Nicolaus increased their price target on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Susquehanna lifted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $136.50.

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; casino gaming; and Terre Haute Casino Resort.