58,139 Shares in Churchill Downs, Incorporated $CHDN Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 58,139 shares of Churchill Downs worth approximately $5.2 million, representing about 0.08% of the company. Institutional investors collectively own 82.59% of CHDN.
• Analyst sentiment remains favorable, with nine Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $136.88.
• Churchill Downs matched quarterly earnings expectations at $3.45 per share and reported $980 million in revenue, up 4.9% year over year, while the stock opened at $88.53.

Assenagon Asset Management S.A. acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,139 shares of the company's stock, valued at approximately $5,212,000. Assenagon Asset Management S.A. owned about 0.08% of Churchill Downs at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in shares of Churchill Downs by 29.8% in the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company's stock valued at $373,000 after purchasing an additional 784 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Churchill Downs by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock worth $53,675,000 after purchasing an additional 121,204 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Churchill Downs by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company's stock worth $25,080,000 after purchasing an additional 15,161 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after buying an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Churchill Downs in the 2nd quarter valued at approximately $229,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHDN. Susquehanna upped their price objective on Churchill Downs from $121.00 to $124.00 and gave the company a "positive" rating in a research report on Friday, July 31st. Wells Fargo & Company cut their target price on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. 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 target on shares of Churchill Downs in a research note on Friday, June 12th. Finally, Citizens Jmp lowered their price target 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, July 31st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $136.88.

Churchill Downs Trading Down 0.1%

NASDAQ CHDN opened at $88.53 on Thursday. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.84 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs, Incorporated has a one year low of $79.40 and a one year high of $118.35. The company's 50 day moving average price is $86.80 and its 200 day moving average price is $89.24.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.45. The company had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.10 earnings per share. On average, sell-side analysts predict that Churchill Downs, Incorporated will post 7.14 EPS 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.

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