Mercer Global Advisors Inc. ADV Has $356,000 Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Mercer Global Advisors Inc. ADV increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,547 shares of the company’s stock after buying an additional 116 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Churchill Downs were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in Churchill Downs by 0.5% during the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after buying an additional 35,337 shares during the period. Vanguard Group Inc. increased its holdings in Churchill Downs by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after purchasing an additional 37,065 shares in the last quarter. Capital International Investors increased its holdings in Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Churchill Downs during the 2nd quarter worth approximately $125,418,000. Finally, Jennison Associates LLC increased its holdings in Churchill Downs by 5.6% during the 1st 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 in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHDN has been the subject of a number of recent research reports. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. JMP Securities upped their target price on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. Finally, Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $134.02 on Monday. The stock has a fifty day simple moving average of $137.75 and a two-hundred day simple moving average of $133.60. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $146.64. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. During the same period in the prior year, the company earned $2.24 earnings per share. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

About Churchill Downs

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.