Schwab Charles Investment Management Inc. boosted its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,817 shares of the company’s stock after buying an additional 4,227 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of Churchill Downs, worth $10,297,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CHDN. BlackRock Inc. raised its stake in shares of Churchill Downs, by 23,504.2% in the first quarter. BlackRock Inc. now owns 1,301,301 shares of the company’s stock valued at $206,713,000 after buying an additional 1,295,788 shares during the period. Vanguard Group Inc. raised its stake in shares of Churchill Downs, by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock valued at $170,242,000 after buying an additional 47,702 shares during the period. FMR LLC increased its position in Churchill Downs, by 25.7% in the first quarter. FMR LLC now owns 737,671 shares of the company’s stock valued at $117,179,000 after buying an additional 150,623 shares in the last quarter. Victory Capital Management Inc. increased its position in Churchill Downs, by 31,916.5% in the first quarter. Victory Capital Management Inc. now owns 262,215 shares of the company’s stock valued at $41,653,000 after buying an additional 261,396 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Churchill Downs, by 11.2% in the first quarter. American Century Companies Inc. now owns 177,778 shares of the company’s stock valued at $28,240,000 after buying an additional 17,950 shares in the last quarter. Institutional investors own 73.94% of the company’s stock.

Churchill Downs, Incorporated (CHDN) traded down 0.29% during midday trading on Friday, hitting $188.05. 68,075 shares of the stock were exchanged. Churchill Downs, Incorporated has a 12-month low of $131.70 and a 12-month high of $197.10. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 25.70 and a beta of 0.88. The firm has a 50 day moving average of $186.72 and a 200-day moving average of $168.52.

Churchill Downs, (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The firm had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. During the same period in the previous year, the company earned $4.11 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts expect that Churchill Downs, Incorporated will post $6.78 earnings per share for the current year.

Churchill Downs, announced that its board has authorized a stock buyback program on Tuesday, April 25th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 99% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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CHDN has been the topic of several research reports. Zacks Investment Research downgraded shares of Churchill Downs, from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Telsey Advisory Group lifted their target price on shares of Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Imperial Capital lifted their target price on shares of Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Finally, BidaskClub raised shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Churchill Downs, presently has an average rating of “Buy” and an average price target of $191.25.

Churchill Downs, Company Profile

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.

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

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