Cubist Systematic Strategies LLC Acquires 85,819 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• Cubist Systematic Strategies LLC increased its stake in Churchill Downs, Incorporated by 372.2% during the 1st quarter, acquiring over 85,000 additional shares, bringing its total ownership to 108,877 shares.
• Churchill Downs reported a quarterly revenue of $934.40 million, exceeding analysts' estimates, with an EPS of $3.10, which is higher than the consensus estimate of $3.03.
• Analysts have a consensus rating of "Buy" for Churchill Downs, with target price estimates ranging from $116.00 to $145.00.

Cubist Systematic Strategies LLC grew its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 372.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 108,877 shares of the company's stock after purchasing an additional 85,819 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.15% of Churchill Downs worth $12,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CHDN. Envestnet Asset Management Inc. grew its position in Churchill Downs by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company's stock worth $34,073,000 after acquiring an additional 11,460 shares during the last quarter. Aurora Investment Counsel bought a new stake in Churchill Downs during the 1st quarter worth $2,675,000. Lighthouse Investment Partners LLC bought a new stake in Churchill Downs during the 4th quarter worth $6,133,000. Teacher Retirement System of Texas grew its position in Churchill Downs by 19.3% during the 1st quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company's stock worth $1,218,000 after acquiring an additional 1,774 shares during the last quarter. Finally, Millennium Management LLC grew its position in Churchill Downs by 29.4% during the 4th quarter. Millennium Management LLC now owns 264,431 shares of the company's stock worth $35,312,000 after acquiring an additional 60,080 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Up 0.4%

CHDN stock traded up $0.44 during trading on Friday, reaching $102.38. 537,963 shares of the stock were exchanged, compared to its average volume of 480,763. The firm's 50 day moving average is $104.89 and its 200 day moving average is $103.37. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month 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 cap of $7.18 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86.

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

Wall Street Analyst Weigh In

CHDN has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target on the stock. Stifel Nicolaus upped their price target on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Barclays boosted their price objective on Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Susquehanna boosted their price objective on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Finally, Macquarie boosted their price objective on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $136.50.

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.