Parthenon LLC Has $9.72 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Parthenon LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 72,062 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Churchill Downs makes up about 1.3% of Parthenon LLC’s holdings, making the stock its 25th biggest holding. Parthenon LLC’s holdings in Churchill Downs were worth $9,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after acquiring an additional 10,868 shares during the period. Envestnet Asset Management Inc. lifted its stake in Churchill Downs by 34.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after purchasing an additional 38,298 shares during the last quarter. Fifth Third Bancorp lifted its stake in Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after purchasing an additional 189 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after acquiring an additional 56,318 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Churchill Downs by 28.9% during the fourth quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after acquiring an additional 179,814 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CHDN. Stifel Nicolaus raised their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday. Mizuho increased their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $144.50.

Churchill Downs Stock Performance

CHDN stock traded down $1.14 during mid-day trading on Tuesday, hitting $129.00. The company had a trading volume of 535,126 shares, compared to its average volume of 391,832. The firm has a market cap of $9.48 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 9.01 and a beta of 1.03. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The stock’s fifty day moving average price is $120.22 and its two-hundred day moving average price is $121.02. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.78 by $0.35. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. Churchill Downs’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, analysts forecast that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

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; and casino gaming.