Retirement Systems of Alabama Decreases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Retirement Systems of Alabama cut its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,943 shares of the company’s stock after selling 2,683 shares during the period. Retirement Systems of Alabama owned approximately 0.24% of Churchill Downs worth $24,282,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Churchill Downs in the 4th quarter worth approximately $39,000. Vestor Capital LLC bought a new stake in Churchill Downs in the 4th quarter worth approximately $45,000. Central Pacific Bank Trust Division purchased a new stake in Churchill Downs during the 1st quarter valued at $44,000. Finally, CWM LLC lifted its holdings in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CHDN shares. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho increased their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Macquarie boosted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JMP Securities raised their target price on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Price Performance

CHDN stock traded up $1.37 during trading on Friday, reaching $138.24. The company’s stock had a trading volume of 239,049 shares, compared to its average volume of 433,183. The company’s fifty day moving average is $138.74 and its 200-day moving average is $130.02. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a market capitalization of $10.16 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter last year, the business posted $2.24 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that Churchill Downs Incorporated will post 6.11 earnings per share for the current fiscal year.

Churchill Downs Company Profile

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.