Alua Capital Management LP Has $48.50 Million Position in Churchill Downs, Incorporated $CHDN

Key Points

• Alua Capital Management trimmed its Churchill Downs stake by 24.6% in the first quarter, but still held 539,890 shares worth about $48.5 million, making CHDN its 8th-largest position.
• Churchill Downs reported better-than-expected quarterly results, with EPS of $1.21 versus estimates of $1.06 and revenue of $663 million, up 3.1% year over year.
• Analysts remain mostly bullish on the stock, with nine Buy ratings, one Sell rating, and a consensus Moderate Buy rating with an average price target of $138.50.

Alua Capital Management LP reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 539,890 shares of the company's stock after selling 175,690 shares during the period. Churchill Downs accounts for approximately 4.3% of Alua Capital Management LP's investment portfolio, making the stock its 8th biggest position. Alua Capital Management LP owned approximately 0.77% of Churchill Downs worth $48,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHDN. Entropy Technologies LP acquired a new stake in shares of Churchill Downs in the 1st quarter valued at about $430,000. Gabelli Funds LLC raised its stake in Churchill Downs by 11.8% during the 1st quarter. Gabelli Funds LLC now owns 148,800 shares of the company's stock worth $13,367,000 after buying an additional 15,700 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Churchill Downs by 0.4% in the first quarter. Gamco Investors INC. ET AL now owns 224,856 shares of the company's stock worth $20,199,000 after acquiring an additional 786 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Churchill Downs during the first quarter worth approximately $215,000. Finally, Orvieto Partners L.P. raised its position in shares of Churchill Downs by 27.6% during the first quarter. Orvieto Partners L.P. now owns 95,700 shares of the company's stock worth $8,597,000 after purchasing an additional 20,700 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

CHDN stock opened at $86.50 on Friday. The firm has a 50 day simple moving average of $86.77 and a two-hundred day simple moving average of $91.28. The stock has a market cap of $6.03 billion, a PE ratio of 16.02, a P/E/G ratio of 0.56 and a beta of 0.67. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.35. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter in the previous year, the company posted $1.07 EPS. Churchill Downs's quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CHDN shares. Citizens Jmp increased their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a "market outperform" rating in a research note on Friday, April 24th. Mizuho lifted their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research report on Friday, April 24th. Truist Financial set a $145.00 price target on shares of Churchill Downs in a report on Friday, June 12th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average price target of $138.50.

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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