Churchill Downs, Incorporated $CHDN Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 213.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 99,032 shares of the company’s stock after purchasing an additional 67,405 shares during the quarter. Wellington Management Group LLP’s holdings in Churchill Downs were worth $8,877,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Churchill Downs in the second quarter valued at $555,948,000. State Street Corp boosted its stake in shares of Churchill Downs by 0.6% during the 4th quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after acquiring an additional 11,523 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after acquiring an additional 7,687 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Churchill Downs by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares during the period. Finally, Boston Partners raised its position in shares of Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock worth $121,998,000 after purchasing an additional 11,653 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings upgraded Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Citizens Jmp dropped their target price on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st. Mizuho boosted their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Wolfe Research started coverage on shares of Churchill Downs in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $134.89.

Churchill Downs Stock Down 1.4%

Shares of Churchill Downs stock opened at $85.83 on Wednesday. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The company has a market cap of $5.98 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a 50-day moving average price of $87.30 and a 200 day moving average price of $88.46.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.45. The company had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 EPS. As a group, analysts expect that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal year.

Churchill Downs 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.