Systematic Financial Management LP Boosts Stock Position in Churchill Downs, Incorporated $CHDN

Key Points

• Systematic Financial Management LP increased its stake in Churchill Downs by 2.1% in the first quarter, owning about 0.25% of the company, equating to approximately $20 million.
• Other institutional investors, including ArrowMark Colorado Holdings and Ameriprise Financial, also boosted their holdings, with hedge funds owning 82.59% of the stock.
• Churchill Downs reported earnings of $3.10 per share for the latest quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 4.9%.

Systematic Financial Management LP lifted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,846 shares of the company's stock after purchasing an additional 3,653 shares during the period. Systematic Financial Management LP owned about 0.25% of Churchill Downs worth $20,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mariner LLC boosted its stake in Churchill Downs by 11.1% during the fourth quarter. Mariner LLC now owns 7,591 shares of the company's stock worth $1,014,000 after buying an additional 759 shares during the period. Dimensional Fund Advisors LP boosted its stake in Churchill Downs by 15.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 509,743 shares of the company's stock worth $68,075,000 after buying an additional 66,731 shares during the period. MML Investors Services LLC boosted its stake in Churchill Downs by 6.4% during the fourth quarter. MML Investors Services LLC now owns 29,281 shares of the company's stock worth $3,910,000 after buying an additional 1,771 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Churchill Downs by 20.6% during the fourth quarter. OneDigital Investment Advisors LLC now owns 3,107 shares of the company's stock worth $415,000 after buying an additional 531 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Churchill Downs by 0.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 493,044 shares of the company's stock valued at $65,842,000 after purchasing an additional 3,388 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on CHDN shares. JMP Securities reduced their price target on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. Macquarie raised their target price on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Truist Financial lowered their price target on Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Stifel Nicolaus boosted 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 boosted their price target on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Buy" and a consensus price target of $136.50.

Churchill Downs Stock Down 3.5%

Shares of CHDN traded down $3.67 during trading hours on Thursday, hitting $102.53. The company had a trading volume of 485,767 shares, compared to its average volume of 714,940. The company has a market capitalization of $7.19 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company's fifty day moving average price is $104.49 and its two-hundred day moving average price is $104.31.

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

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.