Jennison Associates LLC Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Jennison Associates LLC boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 28.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 803,074 shares of the company’s stock after buying an additional 179,814 shares during the quarter. Jennison Associates LLC’s holdings in Churchill Downs were worth $108,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after buying an additional 56,318 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Churchill Downs by 8.3% in the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after purchasing an additional 83,214 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Churchill Downs by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Churchill Downs by 0.4% in the third quarter. Northern Trust Corp now owns 490,503 shares of the company’s stock worth $56,918,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Churchill Downs in the third quarter worth about $47,479,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho assumed coverage on shares of Churchill Downs in a report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.13.

Churchill Downs Stock Up 1.5 %

NASDAQ CHDN opened at $120.74 on Tuesday. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The business’s fifty day simple moving average is $119.46 and its 200-day simple moving average is $120.48. The firm has a market cap of $8.90 billion, a PE ratio of 22.13, a P/E/G ratio of 8.29 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. The firm had revenue of $561.20 million during the quarter, compared to the consensus estimate of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.48 earnings per share for the current year.

Churchill Downs 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; and casino gaming.