XTX Topco Ltd Takes Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

XTX Topco Ltd bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 27,410 shares of the company's stock, valued at approximately $3,044,000.

Several other hedge funds have also recently modified their holdings of CHDN. Norges Bank purchased a new position in Churchill Downs in the 4th quarter valued at approximately $74,967,000. SG Americas Securities LLC grew its position in 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 acquiring an additional 510,331 shares in the last quarter. FMR LLC grew its position in Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after acquiring an additional 214,694 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Churchill Downs by 97.9% in the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after purchasing an additional 213,311 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Churchill Downs during the fourth quarter valued at about $28,369,000. Institutional investors own 82.59% of the company's stock.

Insider Transactions at Churchill Downs

In related news, Director Douglas C. Grissom purchased 10,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the transaction, the director directly owned 38,869 shares in the company, valued at approximately $3,605,877.13. The trade was a 34.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director R Alex Rankin purchased 2,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were bought at an average price of $92.65 per share, with a total value of $185,300.00. Following the completion of the transaction, the director owned 99,012 shares of the company's stock, valued at approximately $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CHDN shares. Jefferies Financial Group decreased their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Truist Financial dropped their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research note 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 on the stock in a research report on Tuesday, May 27th. Mizuho boosted their target price 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, JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and a consensus target price of $138.18.

Churchill Downs Stock Performance

Churchill Downs stock traded down $0.65 during mid-day trading on Friday, reaching $106.39. 556,559 shares of the company traded hands, compared to its average volume of 745,279. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week 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. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The firm's fifty day moving average is $101.95 and its two-hundred day moving average is $107.15.

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