Legal & General Group Plc Invests $7.58 Million in Churchill Downs, Incorporated $CHDN

Key Points

• Legal & General Group Plc purchased 84,620 Churchill Downs shares worth approximately $7.58 million, while institutional investors and hedge funds collectively own 82.59% of the company.
• Churchill Downs reported quarterly EPS of $3.45, matching analyst expectations, while revenue reached $980 million—up 4.9% year over year and slightly above estimates.
• Analyst sentiment remains largely positive, with 10 Buy ratings and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $134.89 versus its recent price of $89.18.

Legal & General Group Plc purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 84,620 shares of the company's stock, valued at approximately $7,585,000. Legal & General Group Plc owned approximately 0.12% of Churchill Downs at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CHDN. BlackRock Inc. acquired a new stake in shares of Churchill Downs during the 2nd quarter worth approximately $555,948,000. William Blair Investment Management LLC purchased a new position in shares of Churchill Downs during the 2nd quarter valued at approximately $92,340,000. Norges Bank acquired a new position in shares of Churchill Downs in the 4th quarter valued at $90,529,000. AQR Capital Management LLC lifted its stake in shares of Churchill Downs by 22,974.8% in the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company's stock valued at $79,352,000 after purchasing an additional 784,591 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company's stock worth $116,100,000 after buying an additional 494,553 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 2.9%

Shares of CHDN opened at $89.18 on Thursday. 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 one year low of $79.40 and a one year high of $118.35. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.82 and a beta of 0.67. The stock has a 50 day moving average price of $87.36 and a 200 day moving average price of $88.51.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup restated an "outperform" rating on shares of Churchill Downs in a research report on Friday, July 31st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Churchill Downs in a research report on Friday, July 31st. Jefferies Financial Group reissued a "buy" rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Susquehanna raised their target price on Churchill Downs from $121.00 to $124.00 and gave the company a "positive" rating in a research report on Friday, July 31st. Finally, Wolfe Research started coverage on Churchill Downs in a research note on Wednesday. They issued an "outperform" rating and a $119.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $134.89.

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.

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