Banco Santander S.A. Acquires Shares of 6,266 Churchill Downs Incorporated (NASDAQ:CHDN)

Banco Santander S.A. bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,266 shares of the company's stock, valued at approximately $837,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company's stock valued at $280,971,000 after purchasing an additional 114,018 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company's stock valued at $175,742,000 after acquiring an additional 96,910 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Churchill Downs by 5.6% during the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company's stock valued at $133,594,000 after acquiring an additional 53,334 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock worth $103,241,000 after acquiring an additional 381,754 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Churchill Downs by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after acquiring an additional 10,153 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of brokerages have recently commented on CHDN. Mizuho cut their price target on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday. Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus lowered their price target 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, JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.38.

Churchill Downs Trading Up 1.0 %

Shares of NASDAQ:CHDN traded up $1.11 during mid-day trading on Thursday, hitting $107.61. The company had a trading volume of 703,638 shares, compared to its average volume of 471,544. The company has a market capitalization of $7.91 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a one year low of $105.18 and a one year high of $150.21. The firm has a fifty day moving average price of $121.90 and a 200 day moving average price of $132.51. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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; casino gaming; and Terre Haute Casino Resort.