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William Blair Investment Management LLC Sells 17,914 Shares of Churchill Downs, Incorporated $CHDN

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Key Points

  • William Blair Investment Management LLC reduced its holdings in Churchill Downs, Incorporated by 1.9%, selling 17,914 shares, and now owns 931,801 shares worth approximately $94.1 million.
  • Churchill Downs reported earnings of $3.10 per share for the last quarter, surpassing the expected $3.03, along with a revenue of $934.4 million, indicating a year-over-year growth of 4.9%.
  • Wall Street analysts maintain a positive outlook on Churchill Downs, with a consensus target price of $137.70 and ten analysts recommending a buy rating.
  • Five stocks to consider instead of Churchill Downs.

William Blair Investment Management LLC lessened its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 931,801 shares of the company's stock after selling 17,914 shares during the period. William Blair Investment Management LLC owned about 1.33% of Churchill Downs worth $94,112,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Jennison Associates LLC increased its holdings in Churchill Downs by 3.0% during the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock worth $114,496,000 after purchasing an additional 30,444 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Churchill Downs by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock valued at $68,359,000 after buying an additional 10,108 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Churchill Downs by 5.1% during the first quarter. Baird Financial Group Inc. now owns 602,849 shares of the company's stock worth $66,958,000 after buying an additional 28,989 shares in the last quarter. Millennium Management LLC raised its position in Churchill Downs by 107.4% in the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company's stock valued at $60,919,000 after buying an additional 284,045 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock valued at $53,675,000 after buying an additional 121,204 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Up 4.4%

CHDN opened at $90.53 on Friday. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company's 50-day moving average price is $97.91 and its two-hundred day moving average price is $99.55. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.62 and a beta of 0.83. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.07. The firm had revenue of $934.40 million for 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 was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 earnings per share. As a group, equities analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHDN. Susquehanna lifted their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Churchill Downs in a report on Wednesday, October 8th. Mizuho upped their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Macquarie increased their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Churchill Downs from $130.00 to $128.00 and set an "overweight" rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus target price of $137.70.

Get Our Latest Research Report on Churchill Downs

Churchill Downs Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report).

Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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