Churchill Downs, Incorporated $CHDN Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 146.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 610,465 shares of the company’s stock after purchasing an additional 362,369 shares during the quarter. Clearbridge Investments LLC’s holdings in Churchill Downs were worth $69,459,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CHDN. Norges Bank acquired a new position in shares of Churchill Downs in the 4th quarter worth approximately $90,529,000. AQR Capital Management LLC lifted its holdings in shares of Churchill Downs by 22,974.8% in the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after acquiring an additional 784,591 shares during the last quarter. Alua Capital Management LP acquired a new position in shares of Churchill Downs in the 3rd quarter worth approximately $48,532,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Churchill Downs by 49.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after acquiring an additional 452,716 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Churchill Downs by 16.3% in the 3rd quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock worth $300,595,000 after acquiring an additional 434,669 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.1%

Shares of NASDAQ:CHDN opened at $86.84 on Tuesday. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46. The company’s 50 day moving average is $89.61 and its two-hundred day moving average is $97.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The company has a market cap of $6.05 billion, a PE ratio of 16.08, a P/E/G ratio of 0.57 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. During the same period in the prior year, the firm posted $1.07 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Churchill Downs, Incorporated will post 7.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHDN has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Citizens Jmp upped their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.