Churchill Downs Incorporated (NASDAQ:CHDN) Holdings Trimmed by Glenview Trust co

Glenview Trust co reduced its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,270 shares of the company’s stock after selling 1,823 shares during the quarter. Glenview Trust co owned 0.30% of Churchill Downs worth $29,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp grew its stake in Churchill Downs by 5.8% in the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after purchasing an additional 114,018 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $175,742,000 after buying an additional 96,910 shares in the last quarter. Jennison Associates LLC increased its holdings in Churchill Downs by 5.6% in the fourth quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock worth $133,594,000 after buying an additional 53,334 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Churchill Downs by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock valued at $80,839,000 after acquiring an additional 10,153 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho cut their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Stifel Nicolaus decreased their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Price Performance

Shares of CHDN stock opened at $110.50 on Friday. Churchill Downs Incorporated has a 12-month low of $105.18 and a 12-month high of $150.21. 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 firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The firm has a fifty day moving average of $120.98 and a 200-day moving average of $132.12.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. On average, equities research analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire 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.

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.