Illinois Municipal Retirement Fund Has $1.44 Million Stake in Churchill Downs, Incorporated (NASDAQ:CHDN)

Illinois Municipal Retirement Fund raised its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 78.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,951 shares of the company's stock after acquiring an additional 5,683 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Churchill Downs were worth $1,438,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Churchill Downs by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 602,701 shares of the company's stock valued at $80,485,000 after acquiring an additional 13,053 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Churchill Downs by 33.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,532 shares of the company's stock valued at $1,006,000 after purchasing an additional 1,882 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Churchill Downs in the fourth quarter valued at about $1,927,000. SRS Capital Advisors Inc. increased its position in Churchill Downs by 6.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,540 shares of the company's stock worth $339,000 after purchasing an additional 152 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Churchill Downs by 37.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,622 shares of the company's stock worth $617,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Insider Buying and Selling

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

Churchill Downs Stock Performance

Churchill Downs stock traded up $0.81 on Friday, reaching $105.76. 309,304 shares of the stock were exchanged, compared to its average volume of 587,138. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.49. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The firm has a fifty day moving average price of $96.61 and a two-hundred day moving average price of $110.46. The stock has a market cap of $7.64 billion, a PE ratio of 18.82, a PEG ratio of 2.99 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 40.73% and a net margin of 15.19%. The business had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. During the same period in the prior year, the firm posted $1.13 EPS. Churchill Downs's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its board has authorized a share repurchase program on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target for the company. Truist Financial reduced their target price on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Macquarie dropped their price target on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Barclays reduced their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $139.91.

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.