Empowered Funds LLC Buys Shares of 19,026 Churchill Downs, Incorporated $CHDN

Key Points

• Empowered Funds LLC purchased 19,026 shares of Churchill Downs worth approximately $1.71 million, while institutional investors collectively own 82.59% of the company.
• Churchill Downs reported quarterly revenue of $980 million, up 4.9% year over year, and earnings of $3.45 per share, matching analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $136.88, despite the stock recently trading at $87.86.

Empowered Funds LLC bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,026 shares of the company's stock, valued at approximately $1,709,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Churchill Downs by 29.8% in the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company's stock valued at $373,000 after acquiring an additional 784 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock valued at $53,675,000 after acquiring an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Churchill Downs by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company's stock valued at $25,080,000 after acquiring an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. raised 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 valued at $28,000 after purchasing an additional 232 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Churchill Downs during the second quarter valued at approximately $229,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of CHDN opened at $87.86 on Friday. The firm has a fifty day moving average of $86.80 and a 200-day moving average of $89.69. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.82 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35.

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

Analyst Ratings Changes

CHDN has been the subject of several analyst reports. Citigroup restated an "outperform" rating on shares of Churchill Downs in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d+)" rating on shares of Churchill Downs in a research report on Friday, July 31st. Citizens Jmp lowered their target price on Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a research note on Friday, July 31st. Mizuho upped their target price on Churchill Downs from $155.00 to $157.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Finally, Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus target price of $136.88.

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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