American Century Companies Inc. Lowers Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Posted by on Aug 29th, 2023

American Century Companies Inc. lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,695 shares of the company’s stock after selling 6,603 shares during the quarter. American Century Companies Inc. owned about 0.34% of Churchill Downs worth $32,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vestor Capital LLC purchased a new position in shares of Churchill Downs during the first quarter worth about $43,000. CI Investments Inc. grew its holdings in shares of Churchill Downs by 64.3% during the fourth quarter. CI Investments Inc. now owns 230 shares of the company’s stock worth $49,000 after buying an additional 90 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Churchill Downs by 51.9% during the first quarter. Signaturefd LLC now owns 196 shares of the company’s stock worth $50,000 after buying an additional 67 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Churchill Downs by 11,050.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 223 shares of the company’s stock worth $57,000 after buying an additional 221 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Churchill Downs by 174.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 72.88% of the company’s stock.

Churchill Downs Trading Up 1.4 %

Shares of CHDN opened at $125.71 on Tuesday. The stock has a fifty day moving average of $128.02 and a two-hundred day moving average of $131.30. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $9.41 billion, a PE ratio of 26.95 and a beta of 1.09. Churchill Downs Incorporated has a fifty-two week low of $89.17 and a fifty-two week high of $150.45.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.26). The business had revenue of $768.50 million during the quarter, compared to analyst estimates of $792.70 million. Churchill Downs had a net margin of 16.28% and a return on equity of 53.61%. The company’s revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 earnings per share. As a group, analysts forecast that Churchill Downs Incorporated will post 5.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHDN. JMP Securities reissued a “market outperform” rating and set a $155.00 price target on shares of Churchill Downs in a report on Monday, August 21st. Wells Fargo & Company lowered their price objective on Churchill Downs from $150.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a research note on Friday. Bank of America cut their price objective on Churchill Downs from $155.00 to $142.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Finally, Truist Financial cut their price objective on Churchill Downs from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.58.

Get Our Latest Stock Report on Churchill Downs

About Churchill Downs

(Free Report)

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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