Teachers Retirement System of The State of Kentucky Reduces Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Teachers Retirement System of The State of Kentucky trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,783 shares of the company’s stock after selling 62 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Churchill Downs were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CHDN. Standard Family Office LLC bought a new stake in shares of Churchill Downs in the 1st quarter valued at approximately $37,000. Ellevest Inc. boosted its position in Churchill Downs by 39.3% during the 1st quarter. Ellevest Inc. now owns 287 shares of the company’s stock valued at $64,000 after purchasing an additional 81 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Churchill Downs by 60.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 296 shares of the company’s stock valued at $67,000 after purchasing an additional 112 shares during the period. MCF Advisors LLC acquired a new position in Churchill Downs during the 1st quarter valued at approximately $99,000. Finally, CENTRAL TRUST Co boosted its position in Churchill Downs by 22.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the company’s stock valued at $109,000 after purchasing an additional 90 shares during the period. 71.98% of the stock is currently owned by institutional investors.

Churchill Downs Trading Up 4.7 %

Shares of CHDN stock opened at $203.45 on Tuesday. The company has a debt-to-equity ratio of 5.23, a quick ratio of 3.79 and a current ratio of 3.79. Churchill Downs Incorporated has a 1 year low of $172.75 and a 1 year high of $262.20. The stock has a fifty day moving average of $207.55 and a two-hundred day moving average of $205.13. The firm has a market capitalization of $7.67 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12.

Churchill Downs (NASDAQ:CHDNGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.09). The business had revenue of $582.50 million for the quarter, compared to analyst estimates of $592.06 million. Churchill Downs had a return on equity of 78.89% and a net margin of 28.52%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.08 EPS. As a group, research analysts expect that Churchill Downs Incorporated will post 7.59 EPS for the current year.

Analysts Set New Price Targets

CHDN has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Churchill Downs from $270.00 to $255.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. KeyCorp set a $280.00 price objective on Churchill Downs in a research report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $273.00.

Churchill Downs Profile

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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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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