B. Metzler seel. Sohn & Co. AG Acquires New Stake in Churchill Downs, Incorporated $CHDN

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 23,643 shares of Churchill Downs during the second quarter, valued at approximately $2.12 million. Institutional investors collectively own 82.59% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $136.88; nine analysts rate the stock Buy versus one Sell rating.
• Churchill Downs reported quarterly earnings of $3.45 per share, matching estimates, while revenue reached $980 million and increased 4.9% year over year. The stock opened at $93.71, with a 52-week range of $79.40 to $118.35.

B. Metzler seel. Sohn & Co. AG acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,643 shares of the company's stock, valued at approximately $2,119,000.

A number of other large investors also recently bought and sold shares of CHDN. Quadrant Capital Group LLC raised its holdings in Churchill Downs by 4.7% during the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company's stock worth $254,000 after purchasing an additional 118 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company's stock valued at $2,479,000 after purchasing an additional 125 shares in the last quarter. Nebula Research & Development LLC boosted its holdings in Churchill Downs by 4.8% in the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company's stock valued at $346,000 after purchasing an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Churchill Downs by 7.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company's stock worth $285,000 after purchasing an additional 169 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in Churchill Downs by 5.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company's stock worth $327,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

CHDN has been the subject of several recent analyst reports. Susquehanna raised their price target on Churchill Downs from $121.00 to $124.00 and gave the company a "positive" rating in a report on Friday, July 31st. Truist Financial set a $145.00 price objective on Churchill Downs in a report on Friday, June 12th. Citizens Jmp cut their price objective on Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a research report on Friday, July 31st. Mizuho raised their target price on Churchill Downs from $155.00 to $157.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, Citigroup reissued an "outperform" rating on shares of Churchill Downs in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average target price of $136.88.

Churchill Downs Stock Performance

CHDN opened at $93.71 on Friday. The stock has a market cap of $6.53 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.89 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. The stock's 50 day simple moving average is $87.31 and its 200 day simple moving average is $88.88. Churchill Downs, Incorporated has a 1-year low of $79.40 and a 1-year high of $118.35.

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 for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.Churchill Downs's quarterly 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 analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal 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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