Parthenon LLC Grows Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Parthenon LLC lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,062 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Churchill Downs comprises approximately 1.3% of Parthenon LLC’s investment portfolio, making the stock its 25th biggest position. Parthenon LLC owned 0.10% of Churchill Downs worth $9,723,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after purchasing an additional 10,868 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after purchasing an additional 38,298 shares during the period. Fifth Third Bancorp boosted its holdings in Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after acquiring an additional 189 shares during the period. Vanguard Group Inc. boosted its holdings in Churchill Downs by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after acquiring an additional 56,318 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Churchill Downs by 28.9% during the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after acquiring an additional 179,814 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 0.9 %

Shares of NASDAQ CHDN traded down $1.14 during midday trading on Tuesday, hitting $129.00. 535,126 shares of the company’s stock were exchanged, compared to its average volume of 391,832. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. Churchill Downs Incorporated has a twelve month low of $106.45 and a twelve month high of $150.45. The company has a market cap of $9.48 billion, a PE ratio of 28.73, a P/E/G ratio of 9.01 and a beta of 1.03. The firm’s fifty day simple moving average is $120.22 and its 200-day simple moving average is $121.02.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. During the same quarter last year, the company earned $0.98 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts predict that Churchill Downs Incorporated will post 5.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CHDN shares. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $137.00 to $141.00 in a report on Monday, April 15th. Stifel Nicolaus raised their target price on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a report on Friday. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. Truist Financial increased their price target on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. Finally, Mizuho increased their price target on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.50.

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; and casino gaming.