Thornburg Investment Management Inc. Has $6.27 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Thornburg Investment Management Inc. lowered its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,657 shares of the company’s stock after selling 1,248 shares during the quarter. Thornburg Investment Management Inc. owned about 0.07% of Churchill Downs worth $6,269,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CHDN. UMB Bank n.a. lifted its stake in shares of Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Churchill Downs in the 4th quarter valued at $39,000. Central Pacific Bank Trust Division acquired a new position in shares of Churchill Downs in the 1st quarter valued at $44,000. Vestor Capital LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $45,000. Finally, GAMMA Investing LLC bought a new stake in shares of Churchill Downs in the 4th quarter valued at $66,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Insider Activity

In related news, Director Paul C. Varga acquired 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CHDN shares. Stifel Nicolaus upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Mizuho upped their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. JMP Securities upped their price objective on shares of Churchill Downs from $156.00 to $158.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.11.

Churchill Downs Stock Down 3.1 %

CHDN stock traded down $4.43 during trading hours on Wednesday, reaching $137.25. 730,725 shares of the stock were exchanged, compared to its average volume of 442,492. The firm’s 50-day moving average is $137.26 and its 200-day moving average is $127.91. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.11 and a beta of 0.97. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64.

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, topping analysts’ consensus estimates of $0.78 by $0.35. The firm had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities research analysts expect that Churchill Downs Incorporated will post 6.03 earnings per share for the current 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.