Capital International Investors Has $300.60 Million Stake in Churchill Downs, Incorporated $CHDN

Key Points

• Capital International Investors raised its stake in Churchill Downs by 16.3% to 3,098,598 shares — about 4.44% ownership valued at approximately $300.6 million per its latest 13F filing.
• Analyst sentiment is positive: 11 Buys and 1 Hold give Churchill Downs a consensus rating of "Moderate Buy" with an average price target of $135 (individual targets range roughly $124–$146).
• Churchill Downs beat quarterly estimates with EPS of $0.97 vs. $0.85 expected and revenue of $665.9M (+6.7% YoY), while trading near $83.62 with a PE of 15.9 and a debt-to-equity ratio of 5.02.

Capital International Investors raised its stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 16.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,098,598 shares of the company's stock after acquiring an additional 434,669 shares during the quarter. Capital International Investors owned approximately 4.44% of Churchill Downs worth $300,595,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp acquired a new position in Churchill Downs during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new position in shares of Churchill Downs during the third quarter worth $27,000. Geneos Wealth Management Inc. lifted its stake in shares of 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 acquiring an additional 232 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Churchill Downs by 1,670.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company's stock valued at $29,000 after acquiring an additional 284 shares in the last quarter. Finally, MAI Capital Management grew its position in Churchill Downs by 306.9% during the 2nd quarter. MAI Capital Management now owns 293 shares of the company's stock worth $30,000 after acquiring an additional 221 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CHDN. Citizens Jmp boosted their price target on Churchill Downs from $142.00 to $146.00 and gave the stock a "market outperform" rating in a report on Wednesday, January 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Finally, Citigroup restated an "outperform" rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus price target of $135.00.

Churchill Downs Trading Down 1.7%

NASDAQ CHDN opened at $83.62 on Wednesday. The firm has a market capitalization of $5.83 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.41 and a beta of 0.65. The business's 50-day moving average price is $98.54 and its two-hundred day moving average price is $101.09. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 5.02. Churchill Downs, Incorporated has a 12 month low of $80.24 and a 12 month high of $118.46.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.12. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The company had revenue of $665.90 million during the quarter, compared to the consensus estimate of $658.01 million. During the same period last year, the company earned $0.92 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Company 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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