Teza Capital Management LLC Has $328,000 Stock Position in Churchill Downs, Incorporated $CHDN

Key Points

• Teza Capital Management LLC reduced its holdings in Churchill Downs by 58.2%, selling 4,107 shares, leaving them with 2,949 shares valued at approximately $328,000.
• Analysts have recently updated their price targets for Churchill Downs, with Susquehanna raising theirs from $121.00 to $126.00 while maintaining a "positive" rating.
• Churchill Downs reported a 4.9% year-over-year revenue increase, generating $934.40 million and achieving earnings of $3.10 per share, surpassing analyst expectations of $3.03.

Teza Capital Management LLC trimmed its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 58.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,949 shares of the company's stock after selling 4,107 shares during the period. Teza Capital Management LLC's holdings in Churchill Downs were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CHDN. SG Americas Securities LLC boosted its holdings in shares of Churchill Downs by 28,864.9% during the 1st 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 during the period. Millennium Management LLC boosted its holdings in shares of Churchill Downs by 107.4% during the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company's stock worth $60,919,000 after buying an additional 284,045 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Churchill Downs by 97.9% during the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after buying an additional 213,311 shares during the period. Nuveen LLC bought a new stake in shares of Churchill Downs during the 1st quarter worth $19,267,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Churchill Downs by 444.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock worth $20,651,000 after buying an additional 151,805 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CHDN shares. Truist Financial decreased their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. JMP Securities decreased their price objective on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price objective for the company. Mizuho upped their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Barclays increased their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $136.50.

Churchill Downs Stock Performance

Churchill Downs stock traded down $2.50 during mid-day trading on Friday, reaching $96.32. The company had a trading volume of 480,174 shares, compared to its average volume of 495,985. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a 50 day moving average of $104.25 and a 200-day moving average of $102.53. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.80 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating 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 firm had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. During the same period in the prior year, the firm earned $2.89 EPS. The business's revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal 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.