Retirement Systems of Alabama Raises Position in Churchill Downs, Incorporated $CHDN

Retirement Systems of Alabama lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,056 shares of the company’s stock after acquiring an additional 11,519 shares during the quarter. Retirement Systems of Alabama owned 0.29% of Churchill Downs worth $22,990,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new stake in Churchill Downs in the 3rd quarter valued at approximately $25,000. First Horizon Corp purchased a new position in shares of Churchill Downs during the 3rd quarter worth approximately $26,000. Quent Capital LLC purchased a new position in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Churchill Downs by 1,670.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after buying an additional 284 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of recent analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Citizens Jmp upped their price target on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company cut their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.00.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $89.11 on Thursday. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.65. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50 day simple moving average is $91.28 and its 200-day simple moving average is $99.40. Churchill Downs, Incorporated has a 12 month low of $80.24 and a 12 month high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. The firm had revenue of $665.90 million during the quarter, compared to the consensus estimate of $658.01 million. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.Churchill Downs’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. As a group, equities analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share 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.