GW&K Investment Management LLC Decreases Position in Churchill Downs, Incorporated $CHDN

Key Points

• GW&K Investment Management trimmed its stake in Churchill Downs by 3.2% in Q3, selling 19,940 shares and retaining 605,493 shares (about 0.87% of the company) valued at roughly $58.74 million.
• Churchill Downs beat expectations for the quarter with $0.97 EPS vs. $0.85 expected and $665.9M revenue (up 6.7% YoY), and analysts hold a generally positive stance—consensus rating Moderate Buy with a $135 average price target.
• Institutional ownership is high at 82.59%, and the stock trades near $90.75 (12‑month range $85.58–$118.46); the company has a market cap of $6.33B and a notable debt-to-equity ratio of 5.02.

GW&K Investment Management LLC trimmed its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 605,493 shares of the company's stock after selling 19,940 shares during the quarter. GW&K Investment Management LLC owned about 0.87% of Churchill Downs worth $58,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Horizon Corp purchased a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in Churchill Downs during the 3rd quarter worth $27,000. Geneos Wealth Management Inc. lifted its position in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Churchill Downs by 1,670.6% in the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company's stock valued at $29,000 after acquiring an additional 284 shares during the last quarter. Finally, MAI Capital Management boosted its stake in Churchill Downs by 306.9% in the second quarter. MAI Capital Management now owns 293 shares of the company's stock valued at $30,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Down 2.9%

NASDAQ:CHDN opened at $90.75 on Thursday. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $118.46. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 5.02. The stock's 50 day simple moving average is $100.84 and its 200-day simple moving average is $101.59. The firm has a market cap of $6.33 billion, a P/E ratio of 17.25, a PEG ratio of 1.55 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm had revenue of $665.90 million during the quarter, compared to the consensus estimate of $658.01 million. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Equities analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHDN shares. Jefferies Financial Group reiterated a "buy" rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Citigroup restated an "outperform" rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Citizens Jmp boosted their price objective on Churchill Downs from $142.00 to $146.00 and gave the company a "market outperform" rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company decreased their price objective on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.00.

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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