California Public Employees Retirement System Reduces Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

California Public Employees Retirement System decreased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,391 shares of the company’s stock after selling 13,454 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Churchill Downs worth $17,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in shares of Churchill Downs by 44.0% during the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the period. Fifth Third Bancorp boosted its holdings in Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after purchasing an additional 189 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $208,000. ARS Wealth Advisors Group LLC purchased a new stake in shares of Churchill Downs during the 3rd quarter valued at approximately $209,000. Finally, Pathstone Family Office LLC lifted its holdings in Churchill Downs by 35.6% in the third quarter. Pathstone Family Office LLC now owns 1,824 shares of the company’s stock valued at $212,000 after acquiring an additional 479 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CHDN shares. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho upped their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial raised their price target on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $137.00 to $141.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $130.14 on Tuesday. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $150.45. The company has a fifty day simple moving average of $120.22 and a two-hundred day simple moving average of $121.02. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 9.01 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. During the same period last year, the business posted $0.98 earnings per share. Churchill Downs’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

About Churchill Downs

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.