Churchill Downs, Incorporated $CHDN Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 455.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 397,921 shares of the company’s stock after purchasing an additional 326,241 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Churchill Downs were worth $45,275,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. HighPoint Advisor Group LLC increased its holdings in shares of Churchill Downs by 14.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,568 shares of the company’s stock valued at $406,000 after acquiring an additional 455 shares during the last quarter. Versor Investments LP purchased a new position in shares of Churchill Downs in the 4th quarter valued at about $205,000. Ballast Inc. purchased a new position in shares of Churchill Downs in the 4th quarter valued at about $498,000. Sequoia Financial Advisors LLC purchased a new position in shares of Churchill Downs in the 4th quarter valued at about $235,000. Finally, Horizon Investments LLC purchased a new position in shares of Churchill Downs in the 4th quarter valued at about $141,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CHDN shares. Citizens Jmp increased their price objective on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Mizuho increased their price objective on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Finally, Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Stock Up 1.1%

Shares of NASDAQ CHDN opened at $86.73 on Friday. The stock has a market cap of $6.05 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.57 and a beta of 0.73. 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. The business has a 50-day moving average price of $89.39 and a 200 day moving average price of $98.75.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating 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 return on equity of 43.50% and a net margin of 13.21%.The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Equities research analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Churchill Downs Profile

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.