Sapient Capital LLC Buys New Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Sapient Capital LLC acquired a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 73,466 shares of the company's stock, valued at approximately $9,913,000. Sapient Capital LLC owned 0.10% of Churchill Downs at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Churchill Downs by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company's stock worth $776,231,000 after acquiring an additional 56,318 shares in the last quarter. BlackRock Inc. grew its position in Churchill Downs by 2.2% in the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company's stock worth $749,830,000 after purchasing an additional 73,505 shares during the period. State Street Corp raised its stake in Churchill Downs by 99.5% during the 2nd quarter. State Street Corp now owns 1,838,002 shares of the company's stock valued at $255,795,000 after buying an additional 916,516 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Churchill Downs by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company's stock worth $126,051,000 after buying an additional 83,214 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Churchill Downs by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company's stock valued at $77,615,000 after acquiring an additional 32,751 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ:CHDN traded up $1.37 on Thursday, reaching $124.39. 438,217 shares of the company's stock traded hands, compared to its average volume of 364,977. The stock has a 50-day simple moving average of $119.53 and a 200-day simple moving average of $120.01. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45. The firm has a market cap of $9.17 billion, a PE ratio of 22.55 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company had revenue of $561.20 million for the quarter, compared to the consensus estimate of $553.05 million. During the same quarter last year, the company earned $0.73 EPS. The firm's quarterly revenue was up 16.9% on a year-over-year basis. Equities research analysts forecast that Churchill Downs Incorporated will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of recent research reports. Mizuho initiated coverage on Churchill Downs in a research note on Tuesday, March 26th. They set a "buy" rating and a $142.00 price target for the company. JMP Securities reiterated a "market outperform" rating and set a $150.00 price target on shares of Churchill Downs in a research note on Wednesday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $137.00 target price on shares of Churchill Downs in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $142.63.

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; and casino gaming.