Victory Capital Management Inc. Grows Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Victory Capital Management Inc. increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 228,550 shares of the company’s stock after purchasing 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 quarter.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp grew its position in shares of Churchill Downs by 22.1% in the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock valued at $3,958,000 after purchasing an additional 5,372 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of Churchill Downs by 100.0% in 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 in the last quarter. Aigen Investment Management LP purchased a new position in shares of Churchill Downs in the third quarter valued at $516,000. Atria Investments Inc grew its position in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after purchasing an additional 224 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after purchasing an additional 37,679 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 1.1 %

Shares of CHDN stock opened at $112.00 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a 50-day moving average price of $123.43 and a two-hundred day moving average price of $133.09. Churchill Downs Incorporated has a 12-month low of $109.40 and a 12-month high of $150.21. The firm has a market cap of $8.24 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) 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 return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Equities analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CHDN shares. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $159.38.

About Churchill Downs

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.