19,200 Shares in Churchill Downs, Incorporated $CHDN Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,200 shares of the company’s stock, valued at approximately $1,725,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHDN. Norges Bank purchased a new stake in shares of Churchill Downs during the 4th quarter worth approximately $90,529,000. AQR Capital Management LLC lifted its stake in Churchill Downs by 22,974.8% in the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Alua Capital Management LP purchased a new position in Churchill Downs in the third quarter valued at approximately $48,532,000. Balyasny Asset Management L.P. grew its holdings in Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after purchasing an additional 494,553 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Churchill Downs by 49.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after purchasing an additional 452,716 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 0.5%

Shares of CHDN stock opened at $89.15 on Thursday. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.59 and a beta of 0.67. The company’s fifty day simple moving average is $89.13 and its two-hundred day simple moving average is $94.63. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.46. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. As a group, analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHDN. Truist Financial set a $145.00 target price on Churchill Downs in a research note on Friday, June 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Mizuho boosted their price objective on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.