Public Employees Retirement System of Ohio Makes New Investment in Churchill Downs, Incorporated $CHDN

Public Employees Retirement System of Ohio purchased a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,479 shares of the company’s stock, valued at approximately $1,746,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHDN. Redwood Investment Management LLC acquired a new stake in shares of Churchill Downs during the 2nd quarter valued at approximately $2,161,000. Corient Private Wealth LP bought a new stake in Churchill Downs in the 2nd quarter valued at about $625,000. Bamco Inc. NY bought a new position in Churchill Downs in the 2nd quarter worth approximately $295,000. Bank of America Corp DE bought a new position in shares of Churchill Downs in the second quarter worth $69,099,000. Finally, Freestone Grove Partners LP bought a new position in Churchill Downs in the 2nd quarter valued at about $16,786,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHDN shares. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, July 31st. Wolfe Research began coverage on shares of Churchill Downs in a research note on Wednesday. They set an “outperform” rating and a $119.00 target price on the stock. Mizuho boosted their price target on 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 raised shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $134.89.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $87.07 on Monday. The company has a 50 day moving average of $87.45 and a 200-day moving average of $88.50. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a one year low of $79.40 and a one year high of $118.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. During the same quarter in the previous year, the business earned $3.10 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current 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.