Capital Fund Management S.A. Takes Position in 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. bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 quarter.

Several other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Churchill Downs by 28,864.9% during the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after buying an additional 510,331 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Churchill Downs by 97.9% during the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after buying an additional 213,311 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Churchill Downs by 57.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company's stock worth $71,185,000 after buying an additional 193,677 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Churchill Downs during the 1st quarter worth about $19,267,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Churchill Downs by 444.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock worth $20,651,000 after buying an additional 151,805 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CHDN. Mizuho raised their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Truist Financial lowered their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price target on the stock. Macquarie raised their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus raised their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $136.50.

Churchill Downs Price Performance

CHDN stock traded down $3.84 during mid-day trading on Thursday, hitting $102.36. The stock had a trading volume of 284,125 shares, compared to its average volume of 713,336. The firm has a fifty day simple moving average of $104.49 and a 200 day simple moving average of $104.31. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a market capitalization of $7.18 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.94 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same period last year, the company posted $2.89 EPS. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Company 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.