Victory Capital Management Inc. Increases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Victory Capital Management Inc. increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,550 shares of the company's stock after acquiring an additional 10,359 shares during the quarter. Victory Capital Management Inc. owned about 0.31% of Churchill Downs worth $30,521,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CHDN. Westfield Capital Management Co. LP boosted its holdings in shares of 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 purchasing an additional 381,754 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Churchill Downs during the third quarter worth $18,368,000. State Street Corp grew its holdings 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 buying an additional 114,018 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Churchill Downs in the 3rd quarter worth $15,231,000. Finally, Geode Capital Management LLC increased 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 worth $175,742,000 after acquiring an additional 96,910 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Up 1.0 %

NASDAQ:CHDN traded up $1.11 during trading hours on Thursday, reaching $107.61. 703,638 shares of the stock were exchanged, compared to its average volume of 471,543. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21. The business has a 50-day moving average of $121.90 and a two-hundred day moving average of $132.51. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

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Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its 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). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its board has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHDN. Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. JMP Securities restated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. StockNews.com downgraded shares of Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus reduced their target price on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average price target of $159.38.

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.