Maryland State Retirement & Pension System Has $362,000 Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Maryland State Retirement & Pension System cut its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 18.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,256 shares of the company’s stock after selling 724 shares during the period. Maryland State Retirement & Pension System’s holdings in Churchill Downs were worth $362,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CHDN. MassMutual Private Wealth & Trust FSB raised its position in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after buying an additional 253 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after buying an additional 129 shares in the last quarter. Private Trust Co. NA raised its position in shares of Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock valued at $60,000 after buying an additional 330 shares in the last quarter. Ossiam raised its position in shares of Churchill Downs by 2,292.7% in the fourth quarter. Ossiam now owns 1,962 shares of the company’s stock valued at $262,000 after buying an additional 1,880 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Churchill Downs in the fourth quarter valued at approximately $293,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $102.58 on Friday. The firm’s fifty day moving average price is $103.74 and its two-hundred day moving average price is $105.26. The stock has a market cap of $7.19 billion, a PE ratio of 17.63, a PEG ratio of 1.92 and a beta of 0.95. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The firm had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $924.36 million. During the same quarter in the previous year, the firm posted $2.89 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Barclays lifted their price objective on shares of Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Macquarie lifted their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group decreased their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $136.50.

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.