Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,682 shares of the company’s stock after purchasing an additional 421 shares during the period. Independent Advisor Alliance’s holdings in Churchill Downs were worth $759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westfield Capital Management Co. LP grew its stake in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Churchill Downs during the third quarter valued at $18,368,000. Raymond James Financial Inc. acquired a new stake in shares of Churchill Downs in the fourth quarter valued at about $16,015,000. State Street Corp increased its stake in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Churchill Downs by 8.1% during the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after purchasing an additional 96,910 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CHDN shares. Stifel Nicolaus lowered their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lowered their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. Finally, Mizuho lowered their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Stock Up 2.7 %

Shares of NASDAQ:CHDN opened at $110.50 on Friday. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21. The stock has a market cap of $8.13 billion, a P/E ratio of 19.45, a PEG ratio of 2.95 and a beta of 0.93. The business has a fifty day moving average of $120.98 and a two-hundred day moving average of $132.12. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data 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). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its board has approved a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Churchill Downs Company 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.