Principal Financial Group Inc. Reduces Position in Churchill Downs, Incorporated $CHDN

Principal Financial Group Inc. decreased its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 10.1% in the third quarter, HoldingsChannel reports. The fund owned 147,516 shares of the company’s stock after selling 16,485 shares during the quarter. Principal Financial Group Inc.’s holdings in Churchill Downs were worth $14,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. London Co. of Virginia lifted its position in Churchill Downs by 38.7% during the second quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock valued at $302,402,000 after purchasing an additional 835,294 shares in the last quarter. Jennison Associates LLC increased its position in Churchill Downs by 52.3% in the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after buying an additional 500,395 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Churchill Downs by 38.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 923,686 shares of the company’s stock worth $93,292,000 after buying an additional 256,022 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Churchill Downs by 5.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 793,258 shares of the company’s stock valued at $80,119,000 after buying an additional 40,645 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after acquiring an additional 784,591 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHDN. 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. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Barclays upped their target price on shares of Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $135.36.

Churchill Downs Trading Up 2.5%

Churchill Downs stock opened at $96.58 on Wednesday. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $125.87. The firm’s 50 day moving average price is $108.10 and its 200-day moving average price is $102.98. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $6.73 billion, a P/E ratio of 17.56, a PEG ratio of 1.40 and a beta of 0.67.

About Churchill Downs

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.