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

Illinois Municipal Retirement Fund increased its position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 78.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,951 shares of the company's stock after purchasing an additional 5,683 shares during the period. Illinois Municipal Retirement Fund's holdings in Churchill Downs were worth $1,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHDN. Vanguard Group Inc. raised its holdings in shares of Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after purchasing an additional 107,737 shares during the period. FMR LLC lifted its holdings in Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after acquiring an additional 214,694 shares during the last quarter. Boston Partners boosted its stake in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after acquiring an additional 366,283 shares during the period. Schroder Investment Management Group grew its holdings in shares of Churchill Downs by 5.4% during the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after purchasing an additional 77,213 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Churchill Downs by 4.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock worth $179,557,000 after purchasing an additional 59,657 shares during the period. 82.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHDN. Jefferies Financial Group lowered their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JMP Securities reduced their target price on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Stifel Nicolaus cut their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Mizuho decreased their price objective on Churchill Downs from $137.00 to $134.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Churchill Downs currently has an average rating of "Moderate Buy" and an average price target of $139.91.

Insider Activity

In other news, Director R Alex Rankin purchased 2,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the completion of the acquisition, the director directly owned 99,012 shares of the company's stock, valued at $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Grissom purchased 10,000 shares of Churchill Downs stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $92.77 per share, with a total value of $927,700.00. Following the transaction, the director owned 38,869 shares in the company, valued at $3,605,877.13. This represents 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.

Churchill Downs Price Performance

Shares of CHDN stock traded up $0.81 during mid-day trading on Friday, hitting $105.76. 309,304 shares of the stock traded hands, compared to its average volume of 587,138. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.53 and a current ratio of 0.53. The company's 50-day simple moving average is $96.96 and its 200-day simple moving average is $110.28. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results 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). The firm had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally an indication that the company's leadership believes its shares are undervalued.

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.