State of New Jersey Common Pension Fund D Sells 13,235 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 35.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,076 shares of the company’s stock after selling 13,235 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Churchill Downs were worth $3,361,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in shares of Churchill Downs by 5.6% during the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after purchasing an additional 44,773 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Churchill Downs by 12.6% during the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after purchasing an additional 47,269 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after purchasing an additional 35,337 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Churchill Downs by 113.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after acquiring an additional 246,769 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Churchill Downs by 6.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock valued at $20,425,000 after acquiring an additional 9,354 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $139.97 on Wednesday. The firm has a market cap of $10.29 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The stock’s 50-day moving average is $138.65 and its 200-day moving average is $132.19. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.24 earnings per share. Sell-side analysts anticipate that Churchill Downs Incorporated will post 6.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHDN. Macquarie raised their price target on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, JMP Securities increased their target price on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.90.

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.