Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,265 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 44.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,131 shares of the company’s stock after acquiring an additional 5,265 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Churchill Downs were worth $2,288,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Truist Financial Corp lifted its stake in shares of Churchill Downs by 22.1% in the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock worth $3,958,000 after buying an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock worth $80,839,000 after buying an additional 10,153 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after buying an additional 224 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after buying an additional 12,226 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $110.50 on Monday. The firm has a fifty day moving average price of $120.98 and a 200-day moving average price of $132.07. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market cap of $8.13 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 1 year low of $105.18 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Equities analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CHDN has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho lowered their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

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; casino gaming; and Terre Haute Casino Resort.