Edgestream Partners L.P. boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,973 shares of the company's stock after purchasing an additional 4,040 shares during the period. Edgestream Partners L.P.'s holdings in Churchill Downs were worth $1,465,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CHDN. Westfield Capital Management Co. LP boosted its position in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Churchill Downs during the third quarter valued at $18,368,000. Raymond James Financial Inc. acquired a new stake in Churchill Downs during the fourth quarter valued at $16,015,000. State Street Corp raised its holdings in Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company's stock valued at $280,971,000 after buying an additional 114,018 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in Churchill Downs during the third quarter valued at about $15,231,000. Institutional investors and hedge funds own 82.59% of the company's stock.
Churchill Downs Stock Performance
Shares of Churchill Downs stock traded up $1.11 during trading on Thursday, reaching $107.61. The company's stock had a trading volume of 703,842 shares, compared to its average volume of 471,749. Churchill Downs Incorporated has a one year low of $105.18 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The business's fifty day moving average price is $121.90 and its 200-day moving average price is $132.51.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) 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 firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. As a group, equities research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs announced that its board has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have weighed in on CHDN shares. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho cut their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Stifel Nicolaus dropped their price objective on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, Churchill Downs currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.
Check Out Our Latest Stock Report on CHDN
Churchill Downs Profile
(
Free Report)
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.
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