Dimensional Fund Advisors LP decreased its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 159,916 shares of the company’s stock after selling 538 shares during the period. Dimensional Fund Advisors LP’s holdings in Churchill Downs, were worth $25,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC increased its position in shares of Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Churchill Downs, by 6.3% in the first quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock valued at $252,000 after buying an additional 94 shares during the last quarter. Profund Advisors LLC increased its position in shares of Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock valued at $254,000 after buying an additional 60 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Churchill Downs, by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,110 shares of the company’s stock valued at $317,000 after buying an additional 150 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Churchill Downs, during the fourth quarter valued at $331,000. 74.54% of the stock is owned by institutional investors and hedge funds.

Shares of Churchill Downs, Incorporated (NASDAQ CHDN) traded down 0.26% on Monday, hitting $194.95. The stock had a trading volume of 10,698 shares. The firm’s 50-day moving average is $182.75 and its 200-day moving average is $164.45. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 26.64 and a beta of 0.88. Churchill Downs, Incorporated has a one year low of $129.85 and a one year high of $196.00.

Churchill Downs, (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The firm had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. During the same period in the previous year, the business earned $4.11 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts expect that Churchill Downs, Incorporated will post $6.72 EPS for the current fiscal year.

Churchill Downs, declared that its board has authorized a share buyback program on Tuesday, April 25th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 99% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Several brokerages have recently weighed in on CHDN. Imperial Capital reaffirmed a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 target price for the company in a research note on Tuesday, August 1st. Finally, Telsey Advisory Group upped their target price on Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $191.25.

In other Churchill Downs, news, Director R Alex Rankin purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the completion of the purchase, the director now directly owns 11,214 shares in the company, valued at $1,841,002.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Duchossois purchased 4,548 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $164.95 per share, for a total transaction of $750,192.60. Following the completion of the purchase, the director now owns 9,509 shares of the company’s stock, valued at $1,568,509.55. The disclosure for this purchase can be found here. 18.44% of the stock is owned by insiders.

About Churchill Downs,

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.

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

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