William Blair Investment Management LLC Acquires 127,687 Shares of Churchill Downs, Incorporated $CHDN

William Blair Investment Management LLC raised its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,145,413 shares of the company’s stock after purchasing an additional 127,687 shares during the period. William Blair Investment Management LLC owned approximately 1.64% of Churchill Downs worth $130,325,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Capital International Investors boosted its holdings in Churchill Downs by 16.3% in the 3rd quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock valued at $300,595,000 after purchasing an additional 434,669 shares during the period. Jennison Associates LLC grew its stake in Churchill Downs by 52.3% during the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after buying an additional 500,395 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Churchill Downs by 49.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after buying an additional 452,716 shares in the last quarter. Boston Partners grew its stake in Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock worth $121,998,000 after buying an additional 11,653 shares in the last quarter. Finally, Hudson Way Capital Management LLC grew its stake in Churchill Downs by 14.3% during the third quarter. Hudson Way Capital Management LLC now owns 1,140,312 shares of the company’s stock worth $110,622,000 after buying an additional 142,714 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CHDN shares. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Mizuho increased their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citizens Jmp increased their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Stock Down 0.5%

CHDN stock opened at $85.12 on Friday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 12 month low of $80.24 and a 12 month high of $118.46. The firm has a 50-day moving average price of $89.44 and a 200-day moving average price of $98.24.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The firm had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, equities 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.