28,921 Shares in Churchill Downs, Incorporated $CHDN Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,921 shares of the company's stock, valued at approximately $2,598,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in shares of Churchill Downs by 6,547.6% during the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company's stock valued at $5,990,000 after acquiring an additional 51,857 shares during the last quarter. UBS Group AG boosted its stake in shares of Churchill Downs by 26.9% during the 4th quarter. UBS Group AG now owns 350,982 shares of the company's stock worth $39,935,000 after acquiring an additional 74,421 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Churchill Downs in the 4th quarter worth $4,266,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Churchill Downs by 126.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company's stock worth $5,326,000 after acquiring an additional 26,105 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Churchill Downs by 38.2% during the first quarter. Bessemer Group Inc. now owns 46,141 shares of the company's stock worth $4,145,000 after purchasing an additional 12,744 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CHDN shares. Wells Fargo & Company reduced their target price on Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a report on Friday. Weiss Ratings cut Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Mizuho boosted their price objective on Churchill Downs from $146.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research note on Friday, June 12th. Finally, Citizens Jmp decreased their target price on shares of Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $136.62.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $84.30 on Monday. The company's fifty day moving average is $86.81 and its two-hundred day moving average is $90.30. The company has a market cap of $5.88 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.68. Churchill Downs, Incorporated has a 12-month low of $79.40 and a 12-month high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The business had revenue of $980.00 million during the quarter, compared to analysts' expectations of $977.38 million. During the same quarter last year, the firm posted $3.10 earnings per share. Churchill Downs's revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Churchill Downs, Incorporated will post 7.1 earnings per share for the current fiscal year.

Trending Headlines about Churchill Downs

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Company 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.

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