Securian Asset Management Inc. Has $742,000 Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Securian Asset Management Inc. reduced its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,556 shares of the company’s stock after selling 153 shares during the period. Securian Asset Management Inc.’s holdings in Churchill Downs were worth $742,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its holdings in shares of Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Churchill Downs during the third quarter worth $18,368,000. Raymond James Financial Inc. acquired a new position in shares of Churchill Downs during the fourth quarter worth $16,015,000. State Street Corp increased its holdings in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after buying an additional 114,018 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Churchill Downs by 8.1% during the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after buying an additional 96,910 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Shares of CHDN opened at $110.50 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $8.13 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The firm’s fifty day simple moving average is $120.98 and its two-hundred day simple moving average is $132.12. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly 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). The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHDN shares. Stifel Nicolaus lowered their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. Mizuho lowered their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

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; casino gaming; and Terre Haute Casino Resort.