Ontario Teachers Pension Plan Board Invests $1.16 Million in Churchill Downs, Incorporated $CHDN

Ontario Teachers Pension Plan Board acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,933 shares of the company’s stock, valued at approximately $1,158,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. GSA Capital Partners LLP boosted its stake in shares of Churchill Downs by 30.9% during the 3rd quarter. GSA Capital Partners LLP now owns 7,271 shares of the company’s stock valued at $705,000 after buying an additional 1,718 shares during the period. Glenview Trust Co boosted its position in Churchill Downs by 1.1% during the third quarter. Glenview Trust Co now owns 216,599 shares of the company’s stock valued at $21,012,000 after purchasing an additional 2,324 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Churchill Downs by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock valued at $21,326,000 after purchasing an additional 16,646 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Churchill Downs by 2.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,760 shares of the company’s stock worth $2,014,000 after purchasing an additional 545 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake in shares of Churchill Downs by 27.5% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 6,146 shares of the company’s stock worth $596,000 after purchasing an additional 1,327 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CHDN. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Barclays lifted their price objective on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $155.00 price objective on shares of Churchill Downs in a report on Friday, October 24th. Citizens Jmp raised their target price on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.10.

Churchill Downs Price Performance

NASDAQ CHDN opened at $92.21 on Friday. The stock has a market capitalization of $6.43 billion, a PE ratio of 16.77, a P/E/G ratio of 1.35 and a beta of 0.67. The stock has a 50-day simple moving average of $104.88 and a 200 day simple moving average of $102.17. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $125.87.

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.