Churchill Downs, Incorporated $CHDN Stake Increased by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 178.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,395 shares of the company's stock after acquiring an additional 49,002 shares during the period. First Trust Advisors LP owned about 0.11% of Churchill Downs worth $6,863,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Churchill Downs by 3.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 52,458 shares of the company's stock valued at $4,712,000 after acquiring an additional 1,848 shares in the last quarter. Aurora Investment Counsel lifted its stake in Churchill Downs by 1.2% during the first quarter. Aurora Investment Counsel now owns 25,924 shares of the company's stock worth $2,329,000 after purchasing an additional 306 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Churchill Downs by 12.7% in the first quarter. California Public Employees Retirement System now owns 134,335 shares of the company's stock worth $12,067,000 after purchasing an additional 15,141 shares during the period. Copeland Capital Management LLC boosted its holdings in Churchill Downs by 9.9% in the first quarter. Copeland Capital Management LLC now owns 265,569 shares of the company's stock worth $23,856,000 after purchasing an additional 23,996 shares during the period. Finally, Bessemer Group Inc. increased its stake in Churchill Downs by 38.2% during the first quarter. Bessemer Group Inc. now owns 46,141 shares of the company's stock valued at $4,145,000 after purchasing an additional 12,744 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research note on Friday, June 12th. Wells Fargo & Company decreased their target price on Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Friday. Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a report on Friday. Susquehanna increased their price target on Churchill Downs from $121.00 to $124.00 and gave the stock a "positive" rating in a research report on Friday. Finally, Weiss Ratings downgraded Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Churchill Downs presently has an average rating of "Moderate Buy" and an average target price of $136.62.

Key Headlines Impacting Churchill Downs

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $84.30 on Monday. The business has a fifty day simple moving average of $86.81 and a 200-day simple moving average of $90.30. Churchill Downs, Incorporated has a fifty-two week low of $79.40 and a fifty-two week high of $118.35. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.68. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.45. The business had revenue of $980.00 million for the quarter, compared to analysts' expectations of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.10 EPS. On average, equities analysts forecast that Churchill Downs, Incorporated will post 7.1 EPS for the current fiscal year.

Churchill Downs 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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