Vanguard Group Inc. Has $686.82 Million Stake in Churchill Downs, Incorporated $CHDN

Vanguard Group Inc. decreased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 5.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,036,416 shares of the company’s stock after selling 323,383 shares during the period. Vanguard Group Inc. owned about 0.09% of Churchill Downs worth $686,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CHDN. AQR Capital Management LLC raised its stake in 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 purchasing an additional 784,591 shares in the last quarter. Jennison Associates LLC raised its stake in Churchill Downs by 52.3% in the 3rd quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after purchasing an additional 500,395 shares in the last quarter. Alua Capital Management LP acquired a new stake in Churchill Downs in the 3rd quarter worth about $48,532,000. Arrowstreet Capital Limited Partnership raised its stake in 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 purchasing an additional 452,716 shares in the last quarter. Finally, Capital International Investors raised its stake in 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 purchasing an additional 434,669 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

CHDN has been the subject of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Mizuho lifted their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Finally, Citizens Jmp boosted their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $98.65 on Monday. The firm has a 50 day moving average of $90.35 and a 200-day moving average of $99.19. The stock has a market capitalization of $6.88 billion, a PE ratio of 18.27, a PEG ratio of 0.65 and a beta of 0.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 12 month low of $80.24 and a 12 month high of $118.46.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. On average, equities research analysts predict that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

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.