AlphaQuest LLC Raises Stake in Churchill Downs, Incorporated $CHDN

AlphaQuest LLC increased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 711.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,670 shares of the company’s stock after buying an additional 33,028 shares during the period. AlphaQuest LLC’s holdings in Churchill Downs were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in shares of Churchill Downs by 29.8% during the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after buying an additional 784 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Churchill Downs by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after acquiring an additional 121,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Churchill Downs by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after acquiring an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $229,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

CHDN has been the subject of several recent research reports. Citizens Jmp lifted their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Barclays lifted their price objective on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Wells Fargo & Company restated an “overweight” rating and issued a $125.00 price target (up previously from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.36.

Churchill Downs Stock Down 1.0%

CHDN stock opened at $97.93 on Friday. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $126.60. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.47 and a beta of 0.68. The firm has a 50-day moving average of $110.22 and a two-hundred day moving average of $103.75.

About Churchill Downs

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.