GW&K Investment Management LLC Has $8.57 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

GW&K Investment Management LLC boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,515 shares of the company’s stock after purchasing an additional 95 shares during the period. GW&K Investment Management LLC owned about 0.09% of Churchill Downs worth $8,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. Arizona State Retirement System lifted its stake in shares of Churchill Downs by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 19,184 shares of the company’s stock valued at $2,226,000 after acquiring an additional 259 shares during the last quarter. Boston Partners acquired a new stake in Churchill Downs in the third quarter valued at $47,479,000. Amalgamated Bank increased its holdings in Churchill Downs by 7.8% in the third quarter. Amalgamated Bank now owns 52,333 shares of the company’s stock valued at $6,073,000 after purchasing an additional 3,790 shares during the period. Swiss National Bank increased its holdings in Churchill Downs by 1.0% in the third quarter. Swiss National Bank now owns 148,100 shares of the company’s stock valued at $17,186,000 after purchasing an additional 1,400 shares during the period. Finally, Argent Trust Co grew its holdings in Churchill Downs by 5.1% during the 3rd quarter. Argent Trust Co now owns 3,138 shares of the company’s stock worth $364,000 after acquiring an additional 152 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga purchased 3,800 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $130.22 per share, with a total value of $494,836.00. Following the transaction, the director now owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHDN. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. Truist Financial increased their price target on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and set a $156.00 price target on shares of Churchill Downs in a report on Monday, May 6th. Mizuho increased their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus raised their target price on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Churchill Downs Stock Performance

Shares of CHDN opened at $135.95 on Thursday. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a 50-day moving average of $126.33 and a 200-day moving average of $123.77. The company has a market cap of $9.99 billion, a PE ratio of 30.28, a P/E/G ratio of 3.85 and a beta of 0.99. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $142.90.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.72 EPS for the current fiscal year.

About Churchill Downs

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.