State of Michigan Retirement System Lowers Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

State of Michigan Retirement System lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 17,380 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Churchill Downs were worth $2,321,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CHDN. Jones Financial Companies Lllp grew its position in shares of Churchill Downs by 37.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,622 shares of the company’s stock worth $617,000 after buying an additional 1,267 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Churchill Downs by 6.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,540 shares of the company’s stock worth $339,000 after acquiring an additional 152 shares in the last quarter. GW&K Investment Management LLC increased its position in Churchill Downs by 22.9% during the 4th quarter. GW&K Investment Management LLC now owns 434,188 shares of the company’s stock valued at $57,982,000 after purchasing an additional 81,013 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Churchill Downs in the 4th quarter valued at about $1,927,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Churchill Downs by 33.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,532 shares of the company’s stock worth $1,006,000 after purchasing an additional 1,882 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $112.00 on Friday. Churchill Downs Incorporated has a fifty-two week low of $109.40 and a fifty-two week high of $150.21. The company has a market cap of $8.24 billion, a PE ratio of 19.72, a P/E/G ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The business has a 50-day simple moving average of $123.43 and a two-hundred day simple moving average of $133.13.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. As a group, equities analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CHDN has been the topic of several research reports. Stifel Nicolaus cut their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs 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; casino gaming; and Terre Haute Casino Resort.