Millennium Management LLC Grows Stock Position in Churchill Downs, Incorporated $CHDN

Millennium Management LLC grew its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 107.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,476 shares of the company's stock after acquiring an additional 284,045 shares during the period. Millennium Management LLC owned about 0.76% of Churchill Downs worth $60,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Churchill Downs by 3.0% in the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock valued at $114,496,000 after acquiring an additional 30,444 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Churchill Downs by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock worth $68,359,000 after buying an additional 10,108 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Churchill Downs by 5.1% in the first quarter. Baird Financial Group Inc. now owns 602,849 shares of the company's stock worth $66,958,000 after buying an additional 28,989 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Churchill Downs by 20.9% in the fourth quarter. Janus Henderson Group PLC now owns 545,912 shares of the company's stock worth $72,903,000 after buying an additional 94,351 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Churchill Downs by 28,864.9% in the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after buying an additional 510,331 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CHDN. Barclays boosted their target price on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. JMP Securities cut their target price on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price on the stock. Truist Financial cut their target price on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Susquehanna increased their price objective on Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $136.50.

Churchill Downs Stock Down 2.5%

Shares of CHDN traded down $2.50 during midday trading on Friday, hitting $96.32. 480,174 shares of the company's stock traded hands, compared to its average volume of 503,362. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The firm's fifty day moving average is $104.25 and its 200-day moving average is $102.63. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm had revenue of $934.40 million during the quarter, compared to analyst estimates of $924.36 million. During the same quarter in the prior year, the business posted $2.89 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.