Segall Bryant & Hamill LLC Has $13.67 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Segall Bryant & Hamill cut its Churchill Downs stake by 11.8% in the first quarter, selling 20,427 shares and retaining 152,213 shares valued at approximately $13.67 million. Institutional investors collectively own 82.59% of the company.
• Churchill Downs reported quarterly revenue of $980 million, up 4.9% year over year and slightly above estimates, while EPS of $3.45 matched consensus. Analysts remain broadly positive, with nine Buy ratings, one Sell rating, and a consensus “Moderate Buy” rating.
• The company is pursuing growth initiatives including full ownership of United Tote and the planned $285 million Victory Run development, while also considering sales of nine regional casinos. High leverage and significant capital spending remain key risks.

Segall Bryant & Hamill LLC decreased its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,213 shares of the company's stock after selling 20,427 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.22% of Churchill Downs worth $13,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in Churchill Downs by 4.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company's stock worth $254,000 after buying an additional 118 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Churchill Downs by 0.5% in the first quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company's stock valued at $2,479,000 after acquiring an additional 125 shares during the period. Nebula Research & Development LLC boosted its position in shares of Churchill Downs by 4.8% in the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company's stock valued at $346,000 after acquiring an additional 158 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Churchill Downs by 7.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company's stock worth $285,000 after acquiring an additional 169 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in shares of Churchill Downs by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company's stock worth $327,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Friday. Mizuho boosted their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a report on Friday, June 12th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research report on Friday. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $136.62.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $84.30 on Friday. Churchill Downs, Incorporated has a 1-year low of $79.40 and a 1-year high of $118.35. The firm has a market capitalization of $5.88 billion, a PE ratio of 14.46, a PEG ratio of 0.54 and a beta of 0.67. The business's 50 day moving average is $86.81 and its 200-day moving average is $90.41. The company has a current ratio of 0.36, a quick ratio of 0.54 and a debt-to-equity ratio of 3.06.

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 (EPS) for the quarter, meeting 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%.Churchill Downs's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 earnings per share. Sell-side analysts predict that Churchill Downs, Incorporated will post 7.1 earnings per share for the current year.

More Churchill Downs News

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 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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