Texas Permanent School Fund increased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 9,027 shares of the company’s stock after buying an additional 105 shares during the period. Texas Permanent School Fund’s holdings in Churchill Downs, were worth $1,655,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock worth $118,000 after buying an additional 365 shares during the period. Strs Ohio raised its position in shares of Churchill Downs, by 150.0% in the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after buying an additional 600 shares during the period. Van ECK Associates Corp raised its position in shares of Churchill Downs, by 6.3% in the first quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock worth $252,000 after buying an additional 94 shares during the period. Profund Advisors LLC raised its position in shares of Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock worth $254,000 after buying an additional 60 shares during the period. Finally, ING Groep NV bought a new position in shares of Churchill Downs, during the second quarter worth $276,000. Institutional investors own 73.94% of the company’s stock.

Churchill Downs, Incorporated (CHDN) opened at 194.55 on Tuesday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 26.59 and a beta of 0.88. The firm has a 50 day moving average of $185.77 and a 200-day moving average of $167.52. Churchill Downs, Incorporated has a one year low of $131.70 and a one year high of $197.10.

Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 EPS for the quarter, beating the Zacks’ consensus estimate of $4.51 by $0.30. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The firm had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. During the same period in the previous year, the firm posted $4.11 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Churchill Downs, Incorporated will post $6.78 EPS for the current fiscal year.

Churchill Downs, announced that its board has approved a stock buyback program on Tuesday, April 25th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 99% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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A number of brokerages have weighed in on CHDN. Zacks Investment Research lowered shares of Churchill Downs, from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Imperial Capital lifted their price target on shares of Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Telsey Advisory Group lowered shares of Churchill Downs, from an “outperform” rating to a “market perform” rating and set a $174.00 price target on the stock. in a report on Friday, April 28th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $191.25.

In other Churchill Downs, news, Director R Alex Rankin bought 1,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $164.17 per share, with a total value of $164,170.00. Following the completion of the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at approximately $1,841,002.38. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard L. Duchossois bought 4,548 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average cost of $164.95 per share, with a total value of $750,192.60. Following the completion of the transaction, the director now directly owns 9,509 shares of the company’s stock, valued at $1,568,509.55. The disclosure for this purchase can be found here. Insiders own 18.44% of the company’s stock.

Churchill Downs, Company Profile

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.

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Institutional Ownership by Quarter for Churchill Downs, (NASDAQ:CHDN)

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