Churchill Downs, Incorporated $CHDN Shares Bought by Sapient Capital LLC

Key Points

• Sapient Capital increased its Churchill Downs stake by 596.9% in the second quarter, acquiring 358,845 additional shares and ending with 418,966 shares valued at approximately $37.6 million. Institutional investors collectively own 82.59% of the company.
• Churchill Downs reported quarterly EPS of $3.45, in line with analyst expectations, while revenue of $980 million modestly exceeded forecasts and rose 4.9% year over year.
• Analysts maintain a generally positive outlook, with nine Buy ratings and one Sell rating and an average price target of $136.88, compared with the stock’s recent price of $87.86.

Sapient Capital LLC raised its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 596.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 418,966 shares of the company's stock after buying an additional 358,845 shares during the period. Sapient Capital LLC owned about 0.60% of Churchill Downs worth $37,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in 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 acquiring an additional 232 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs in the third quarter valued at approximately $25,000. Parkside Financial Bank & Trust boosted its position in Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company's stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Root Financial Partners LLC boosted its position in Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company's stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Churchill Downs in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $87.86 on Monday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The firm has a market capitalization of $6.12 billion, a PE ratio of 15.07, a P/E/G ratio of 0.83 and a beta of 0.68. The business's 50 day moving average price is $86.80 and its 200-day moving average price is $89.56.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The firm's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.10 EPS. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHDN. Citizens Jmp cut their target price on shares of Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a report on Friday, July 31st. Weiss Ratings reissued a "sell (d+)" rating on shares of Churchill Downs in a report on Friday, July 31st. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Susquehanna lifted their price objective on shares of Churchill Downs from $121.00 to $124.00 and gave the company a "positive" rating in a report on Friday, July 31st. Finally, Citigroup restated an "outperform" rating on shares of Churchill Downs in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $136.88.

About Churchill Downs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source