Public Employees Retirement Association of Colorado Decreases Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Public Employees Retirement Association of Colorado lowered its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 7,237 shares of the company’s stock after selling 260 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Churchill Downs were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CHDN. William Blair Investment Management LLC acquired a new stake in Churchill Downs during the second quarter worth approximately $125,418,000. Balyasny Asset Management L.P. grew its position in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after purchasing an additional 246,769 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after purchasing an additional 193,914 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Churchill Downs in the second quarter valued at $26,384,000. Finally, Capital International Investors raised its holdings in shares of Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after buying an additional 177,900 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

CHDN has been the topic of several recent research reports. Macquarie boosted their price target on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Mizuho lifted their target price on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Truist Financial restated a “buy” rating and set a $166.00 price objective (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Trading Down 2.9 %

NASDAQ:CHDN opened at $133.25 on Wednesday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 2.04 and a beta of 0.97. The stock has a fifty day moving average price of $138.23 and a two-hundred day moving average price of $133.19.

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

Churchill Downs Company 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.