Soros Capital Management LLC Purchases 2,409 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• Soros Capital Management LLC increased its stake in Churchill Downs by 34.8%, acquiring an additional 2,409 shares for a total of 9,330 shares valued at $1,036,000.
• Churchill Downs has received positive analyst ratings with most ratings being "Buy," and an average target price of $136.50 following recent price adjustments.
• The company reported a quarterly earnings per share of $3.10, surpassing the consensus estimate and showing a revenue increase of 4.9% year-over-year.

Soros Capital Management LLC raised its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,330 shares of the company's stock after purchasing an additional 2,409 shares during the quarter. Soros Capital Management LLC's holdings in Churchill Downs were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC grew its position in shares of Churchill Downs by 4.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock valued at $179,557,000 after buying an additional 59,657 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Churchill Downs by 5.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,060,846 shares of the company's stock worth $141,669,000 after buying an additional 58,507 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Churchill Downs by 3.0% during the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock valued at $114,496,000 after buying an additional 30,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Churchill Downs by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock worth $68,359,000 after acquiring an additional 10,108 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Churchill Downs by 20.5% during the 4th quarter. Northern Trust Corp now owns 589,710 shares of the company's stock worth $78,750,000 after buying an additional 100,337 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CHDN. Mizuho upped their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Susquehanna lifted their price objective on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Stifel Nicolaus upped their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JMP Securities lowered their price target on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $136.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded down $3.32 during trading on Thursday, hitting $102.86. The company's stock had a trading volume of 869,932 shares, compared to its average volume of 491,433. The company has a 50-day moving average of $104.49 and a 200-day moving average of $104.31. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 1.98 and a beta of 0.95. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. During the same quarter last year, the business earned $2.89 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Company 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.