Churchill Downs, Incorporated $CHDN Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.0% during the 1st quarter, Holdings Channel reports. The fund owned 1,134,718 shares of the company’s stock after selling 98,777 shares during the period. Jennison Associates LLC’s holdings in Churchill Downs were worth $101,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CHDN. AQR Capital Management LLC lifted its holdings in Churchill Downs by 29.8% in the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after purchasing an additional 784 shares during the period. Goldman Sachs Group Inc. increased its stake in Churchill Downs by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after buying 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% during the 1st 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% during the 1st 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 acquired a new stake in shares of Churchill Downs in the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $83.95 on Monday. The stock’s fifty day simple moving average is $87.00 and its 200 day simple moving average is $92.17. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.57 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46.

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. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.Churchill Downs’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, sell-side analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CHDN shares. Mizuho raised their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $145.00 price target on Churchill Downs in a research note on Friday, June 12th. Citizens Jmp lifted their price target on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.50.

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.