Vaughan Nelson Investment Management L.P. Invests $43.43 Million in Churchill Downs, Incorporated $CHDN

Vaughan Nelson Investment Management L.P. bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 381,740 shares of the company’s stock, valued at approximately $43,434,000. Vaughan Nelson Investment Management L.P. owned approximately 0.55% of Churchill Downs as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Retirement Systems of Alabama increased its holdings in Churchill Downs by 6.0% in the fourth quarter. Retirement Systems of Alabama now owns 202,056 shares of the company’s stock valued at $22,990,000 after buying an additional 11,519 shares during the last quarter. Barlow Wealth Partners LLC increased its holdings in shares of Churchill Downs by 1.4% in the 4th quarter. Barlow Wealth Partners LLC now owns 16,276 shares of the company’s stock valued at $1,762,000 after acquiring an additional 230 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Churchill Downs by 8.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 31,214 shares of the company’s stock valued at $3,552,000 after acquiring an additional 2,359 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Churchill Downs by 1.1% during the fourth quarter. Park Avenue Securities LLC now owns 12,132 shares of the company’s stock worth $1,380,000 after purchasing an additional 136 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Churchill Downs by 112.6% in the fourth quarter. GAMMA Investing LLC now owns 1,469 shares of the company’s stock worth $167,000 after purchasing an additional 778 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citizens Jmp increased their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Wells Fargo & Company dropped their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.00.

Churchill Downs Stock Performance

Shares of CHDN opened at $85.86 on Tuesday. The firm has a fifty day moving average of $91.83 and a 200-day moving average of $99.52. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $665.90 million for the quarter, compared to analysts’ expectations of $658.01 million. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

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.