Capital Fund Management S.A. Purchases Shares of 58,556 Churchill Downs, Incorporated $CHDN

Key Points

• Capital Fund Management S.A. has recently invested approximately $6.50 million in Churchill Downs, acquiring 58,556 shares of the company.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, exceeding the consensus estimate of $3.03.
• Analyst ratings show a consensus of "Buy" for Churchill Downs, with a target price averaging $136.50.

Capital Fund Management S.A. acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,556 shares of the company's stock, valued at approximately $6,504,000. Capital Fund Management S.A. owned about 0.08% of Churchill Downs at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in Churchill Downs by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company's stock valued at $34,073,000 after acquiring an additional 11,460 shares during the last quarter. Aurora Investment Counsel bought a new position in Churchill Downs in the first quarter valued at approximately $2,675,000. Landmark Investment Partners L.P. bought a new position in Churchill Downs in the fourth quarter valued at approximately $13,317,000. Lighthouse Investment Partners LLC bought a new position in Churchill Downs in the fourth quarter valued at approximately $6,133,000. Finally, Teacher Retirement System of Texas increased its stake in Churchill Downs by 19.3% in the first quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company's stock valued at $1,218,000 after acquiring an additional 1,774 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Barclays boosted their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Macquarie boosted their target price on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Susquehanna boosted their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Churchill Downs has an average rating of "Buy" and an average price target of $136.50.

Churchill Downs Trading Up 2.1%

CHDN stock traded up $2.23 during midday trading on Wednesday, hitting $106.06. The stock had a trading volume of 363,853 shares, compared to its average volume of 714,496. The firm has a market cap of $7.44 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The business has a fifty day moving average price of $104.34 and a two-hundred day moving average price of $104.30.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million for the quarter, compared to analyst estimates of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. Churchill Downs's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 earnings per share. On average, sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.