Louisiana State Employees Retirement System Takes Position in Churchill Downs, Incorporated $CHDN

Louisiana State Employees Retirement System acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,200 shares of the company’s stock, valued at approximately $1,725,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Churchill Downs by 29.8% in the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after purchasing an additional 784 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after purchasing an additional 121,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Churchill Downs by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock worth $25,080,000 after buying an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Churchill Downs during the second quarter valued at $229,000. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHDN shares. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Citizens Jmp boosted their price objective on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Stock Down 0.5%

Shares of NASDAQ:CHDN opened at $89.15 on Thursday. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46. The firm has a fifty day moving average of $89.13 and a 200 day moving average of $94.63. The firm has a market capitalization of $6.21 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.59 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. During the same quarter last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.