398,177 Shares in Churchill Downs, Incorporated $CHDN Acquired by Vestor Capital LLC

Key Points

• Vestor Capital acquired 398,177 Churchill Downs shares worth approximately $35.8 million, giving it a 0.57% stake; institutional investors collectively own 82.59% of the company.
• Churchill Downs reported second-quarter revenue of $980 million, up 4.9% year over year and slightly above estimates, while adjusted EPS of $3.45 fell short of the $3.51 consensus cited by Zacks. The stock has declined sharply and remains below its 50-day and 200-day moving averages.
• The company is pursuing growth initiatives, including acquiring full ownership of United Tote and investing about $285 million in its Victory Run development ahead of the 2028 Kentucky Derby. Analysts maintain a “Moderate Buy” consensus with a $138.50 price target, though Churchill Downs is also reviewing strategic alternatives for nine regional casinos.

Vestor Capital LLC bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 398,177 shares of the company's stock, valued at approximately $35,768,000. Churchill Downs makes up approximately 2.6% of Vestor Capital LLC's holdings, making the stock its 13th biggest position. Vestor Capital LLC owned approximately 0.57% of Churchill Downs as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CHDN. Measured Wealth Private Client Group LLC acquired a new position in shares of Churchill Downs in the third quarter worth $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company's stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Root Financial Partners LLC increased its position in Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company's stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs News Roundup

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

• Positive Sentiment: Churchill Downs agreed to acquire NYRA’s 49% stake in United Tote, giving the company full ownership of the pari-mutuel wagering technology and services provider. The deal could strengthen CDI’s racing-technology platform and provide additional long-term growth opportunities. United Tote acquisition announcement
• Positive Sentiment: Management outlined approximately $285 million of Victory Run development ahead of the 2028 Kentucky Derby, alongside an expanded Homestretch Club and upgraded infield seating. These projects are intended to increase premium hospitality capacity and future racetrack revenue. Victory Run buildout and casino sales
• Neutral Sentiment: CDI is reviewing strategic alternatives for nine regional casino properties, including potential sales. Divestitures could generate cash and sharpen the company’s portfolio, but the eventual proceeds, timing and impact on recurring earnings remain uncertain. Strategic gaming-asset review
• Negative Sentiment: Second-quarter adjusted earnings were $3.45 per share, matching some reported estimates but below the Zacks consensus of $3.51. Revenue rose 4.9% year over year to $980 million and exceeded the roughly $977 million consensus, but the modest revenue beat did not offset concerns that earnings performance was insufficient relative to investor expectations. Q2 earnings estimate comparison
• Negative Sentiment: The sharp selloff and unusually heavy trading indicate that investors reacted negatively to the earnings call, likely reflecting concerns about margins, forward expectations or the sustainability of recent Derby-driven strength. The stock remains below its 50-day and 200-day moving averages, adding technical pressure.

Analysts Set New Price Targets

CHDN has been the topic of a number of recent research reports. Jefferies Financial Group restated a "buy" rating on shares of Churchill Downs in a report on Thursday, July 2nd. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research report on Friday, June 12th. Weiss Ratings downgraded shares of Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Mizuho raised their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of "Moderate Buy" and a consensus price target of $138.50.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $82.69 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The company has a market cap of $5.76 billion, a PE ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 0.67. The company's fifty day simple moving average is $86.83 and its 200-day simple moving average is $90.46. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. The business had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 45.12% and a net margin of 13.82%.The company's revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.10 EPS. As a group, equities research analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

About Churchill Downs

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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