OP Asset Management Ltd Acquires Shares of 20,405 Churchill Downs, Incorporated $CHDN

OP Asset Management Ltd bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,405 shares of the company’s stock, valued at approximately $1,833,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHDN. Norges Bank purchased a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $90,529,000. AQR Capital Management LLC boosted its position in Churchill Downs by 22,974.8% in the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Alua Capital Management LP bought a new position in Churchill Downs in the 3rd quarter valued at $48,532,000. Balyasny Asset Management L.P. grew its stake in Churchill Downs by 94.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after purchasing an additional 494,553 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Churchill Downs by 49.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after purchasing an additional 452,716 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

CHDN stock opened at $88.93 on Monday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.59 and a beta of 0.68. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The stock has a fifty day moving average of $89.31 and a 200-day moving average of $95.16.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities research analysts predict that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of recent analyst reports. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Citizens Jmp raised their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Finally, Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

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.