Churchill Downs, Incorporated $CHDN Stock Holdings Trimmed by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lessened its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 34.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,140 shares of the company’s stock after selling 15,368 shares during the period. Thornburg Investment Management Inc.’s holdings in Churchill Downs were worth $2,827,000 as of its most recent SEC filing.

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

Churchill Downs Stock Performance

Churchill Downs stock opened at $90.37 on Friday. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $119.11. The firm’s 50 day simple moving average is $102.59 and its 200-day simple moving average is $101.87. 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 company has a market cap of $6.30 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. Churchill Downs had a net margin of 13.09% and a return on equity of 42.85%. The business had revenue of $665.90 million during the quarter, compared to the consensus estimate of $658.01 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Analysts Set New Price Targets

CHDN has been the subject of several analyst reports. Citizens Jmp boosted their price objective on Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $125.00 target price (up from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.10.

Churchill Downs Company 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.