William Blair Investment Management LLC Acquires 127,687 Shares of Churchill Downs, Incorporated $CHDN

by · The Cerbat Gem

William Blair Investment Management LLC boosted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN – Free Report) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,145,413 shares of the company’s stock after buying an additional 127,687 shares during the quarter. William Blair Investment Management LLC’s holdings in Churchill Downs were worth $130,325,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs in the 3rd quarter valued at approximately $25,000. TFC Financial Management Inc. bought a new position in Churchill Downs during the 4th quarter worth approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in Churchill Downs during the 3rd quarter worth approximately $45,000. Finally, UMB Bank n.a. raised its holdings in Churchill Downs by 62.7% during the 3rd quarter. UMB Bank n.a. now owns 550 shares of the company’s stock worth $53,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

CHDN has been the subject of several analyst reports. Citizens Jmp raised their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Wells Fargo & Company restated an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Read Our Latest Analysis on CHDN

Churchill Downs Stock Performance

Shares of CHDN stock opened at $85.12 on Friday. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.73. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm has a 50 day moving average of $89.44 and a 200-day moving average of $98.24.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. On average, equities analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

About Churchill Downs

(Free Report)

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.

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