Securian Asset Management Inc. Has $742,000 Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Securian Asset Management Inc. cut its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,556 shares of the company’s stock after selling 153 shares during the quarter. Securian Asset Management Inc.’s holdings in Churchill Downs were worth $742,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after buying an additional 114,018 shares during the period. Geode Capital Management LLC grew its stake in shares of Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after buying an additional 96,910 shares during the period. Jennison Associates LLC grew its stake in shares of Churchill Downs by 5.6% in the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock valued at $133,594,000 after buying an additional 53,334 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Churchill Downs by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock valued at $80,839,000 after buying an additional 10,153 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Churchill Downs Trading Up 2.7 %

NASDAQ:CHDN opened at $110.50 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $8.13 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The firm’s 50 day moving average is $120.98 and its 200 day moving average is $132.12. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS 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 company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Sell-side analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its board has approved a share repurchase plan on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.