Churchill Downs, Incorporated $CHDN Shares Acquired by UBS Group AG

Key Points

• UBS Group AG boosted its stake in Churchill Downs by 26.9% in Q4, acquiring 74,421 shares to hold 350,982 shares (about 0.50% of the company) valued at roughly $39.9 million.
• Churchill Downs beat the quarter with EPS $1.21 vs. $1.06 expected and revenue of $663M vs. $659M, and analysts remain mostly positive (11 Buys, 1 Sell) with an average price target of $139.
• Shares traded down 3.7% (opened $88.85) with a 12‑month range of $80.24–$118.46; the company has a market cap of $6.19B, PE of 16.45 and a high debt-to-equity ratio of 4.44, highlighting leverage risk.

UBS Group AG lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 26.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 350,982 shares of the company's stock after buying an additional 74,421 shares during the period. UBS Group AG owned approximately 0.50% of Churchill Downs worth $39,935,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CHDN. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the third quarter worth about $25,000. First Horizon Corp acquired a new stake in shares of Churchill Downs during the third quarter worth about $26,000. Quent Capital LLC acquired a new stake in shares of Churchill Downs during the third quarter worth about $27,000. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock worth $28,000 after buying an additional 232 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company's stock worth $29,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Down 3.7%

Shares of Churchill Downs stock opened at $88.85 on Friday. Churchill Downs, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock has a market cap of $6.19 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.61 and a beta of 0.73. The company has a 50-day moving average of $90.14 and a two-hundred day moving average of $99.26.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The company had revenue of $663.00 million during the quarter, compared to analysts' expectations of $659.32 million. During the same period last year, the company posted $1.07 earnings per share. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CHDN shares. Jefferies Financial Group reissued a "buy" rating on shares of Churchill Downs in a report on Tuesday, April 21st. Citizens Jmp increased their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a "market outperform" rating in a report on Friday, April 24th. Wells Fargo & Company reissued an "overweight" rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Weiss Ratings cut shares of Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Finally, Mizuho increased their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Eleven equities 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 has an average rating of "Moderate Buy" and an average price target of $139.00.

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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