William Blair Investment Management LLC Acquires Shares of 1,030,121 Churchill Downs, Incorporated $CHDN

William Blair Investment Management LLC bought a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,030,121 shares of the company’s stock, valued at approximately $92,340,000.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Churchill Downs by 6,547.6% during the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after acquiring an additional 51,857 shares in the last quarter. UBS Group AG increased its position in Churchill Downs by 26.9% in the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after purchasing an additional 74,421 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $4,266,000. First Trust Advisors LP raised its stake in shares of Churchill Downs by 178.9% during the 1st quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock worth $6,863,000 after purchasing an additional 49,002 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Churchill Downs by 126.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock valued at $5,326,000 after buying an additional 26,105 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

CHDN opened at $93.71 on Friday. The company has a market cap of $6.53 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 0.88 and a beta of 0.68. The stock has a 50-day moving average of $87.31 and a 200-day moving average of $88.88. Churchill Downs, Incorporated has a 52-week low of $79.40 and a 52-week high of $118.35. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same quarter in the prior year, the firm posted $3.10 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHDN has been the subject of several recent research reports. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st. Mizuho lifted their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research report on Friday, July 31st. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Susquehanna raised their price target on shares of Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.88.

About Churchill Downs

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.