William Blair Investment Management LLC Has $137.94 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

William Blair Investment Management LLC lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,032,920 shares of the company’s stock after selling 33,632 shares during the quarter. William Blair Investment Management LLC’s holdings in Churchill Downs were worth $137,936,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC lifted its position in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd bought a new position in shares of Churchill Downs during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho cut their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus cut their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Trading Up 2.7 %

NASDAQ:CHDN opened at $110.50 on Monday. Churchill Downs Incorporated has a 52 week low of $105.18 and a 52 week high of $150.21. The firm has a 50 day moving average of $120.98 and a 200 day moving average of $132.07. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.95 and a beta of 0.93.

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

Churchill Downs announced that its board has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Churchill Downs Profile

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.