Victory Capital Management Inc. Grows Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Victory Capital Management Inc. lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 228,550 shares of the company’s stock after buying an additional 10,359 shares during the period. Victory Capital Management Inc.’s holdings in Churchill Downs were worth $30,521,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CHDN. Atria Investments Inc increased its holdings in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after buying an additional 224 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after buying an additional 90 shares during the period. Versor Investments LP purchased a new position in Churchill Downs during the 3rd quarter valued at about $473,000. WCM Investment Management LLC purchased a new position in Churchill Downs during the 3rd quarter valued at about $15,231,000. Finally, Winslow Asset Management Inc. increased its holdings in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.1 %

CHDN stock opened at $112.00 on Monday. Churchill Downs Incorporated has a fifty-two week low of $109.40 and a fifty-two week high of $150.21. The business’s 50 day moving average price is $123.43 and its two-hundred day moving average price is $133.09. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. As a group, analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CHDN shares. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Stifel Nicolaus reduced their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.38.

About Churchill Downs

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.