GW&K Investment Management LLC Has $51.76 Million Stock Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

GW&K Investment Management LLC lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,966 shares of the company's stock after purchasing an additional 31,778 shares during the quarter. GW&K Investment Management LLC owned about 0.65% of Churchill Downs worth $51,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Churchill Downs by 3.0% during the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock worth $114,496,000 after acquiring an additional 30,444 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Churchill Downs by 6.5% in the first quarter. Segall Bryant & Hamill LLC now owns 224,224 shares of the company's stock worth $24,905,000 after purchasing an additional 13,742 shares in the last quarter. Edgestream Partners L.P. lifted its position in Churchill Downs by 490.4% in the first quarter. Edgestream Partners L.P. now owns 64,790 shares of the company's stock worth $7,196,000 after purchasing an additional 53,817 shares during the period. Aurora Investment Counsel acquired a new stake in Churchill Downs in the first quarter worth approximately $2,675,000. Finally, Cardinal Strategic Wealth Guidance lifted its position in Churchill Downs by 100.3% in the first quarter. Cardinal Strategic Wealth Guidance now owns 5,357 shares of the company's stock worth $595,000 after purchasing an additional 2,682 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock traded up $4.23 during midday trading on Thursday, reaching $113.39. The company had a trading volume of 990,380 shares, compared to its average volume of 739,062. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.95. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.49. The stock has a fifty day simple moving average of $100.00 and a 200 day simple moving average of $107.90.

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, beating analysts' consensus estimates of $3.03 by $0.07. The firm had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $2.89 earnings per share. As a group, equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Insiders Place Their Bets

In other Churchill Downs news, Director R Alex Rankin purchased 2,000 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the purchase, the director owned 99,012 shares of the company's stock, valued at approximately $9,173,461.80. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas C. Grissom purchased 10,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the purchase, the director directly owned 38,869 shares in the company, valued at approximately $3,605,877.13. The trade was a 34.64% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.34% of the company's stock.

Analyst Upgrades and Downgrades

CHDN has been the subject of several recent analyst reports. Susquehanna raised their target price on Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research report on Wednesday. JMP Securities decreased their price target on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Macquarie reduced their target price on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group reduced their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and an average price target of $137.73.

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; casino gaming; and Terre Haute Casino Resort.