Arrowstreet Capital Limited Partnership Sells 7,399 Shares of Churchill Downs, Incorporated $CHDN

Arrowstreet Capital Limited Partnership lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,376,690 shares of the company’s stock after selling 7,399 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Churchill Downs were worth $123,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHDN. AQR Capital Management LLC grew its holdings 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 worth $373,000 after purchasing an additional 784 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after purchasing an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 worth $25,080,000 after purchasing an additional 15,161 shares during the period. Geneos Wealth Management Inc. lifted its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Churchill Downs during the second quarter worth about $229,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 3.3%

Shares of NASDAQ CHDN opened at $86.50 on Friday. The company’s fifty day simple moving average is $86.77 and its 200 day simple moving average is $91.28. Churchill Downs, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm has a market cap of $6.03 billion, a PE ratio of 16.02, a P/E/G ratio of 0.56 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. The business had revenue of $663.00 million for 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 company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. As a group, sell-side analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Mizuho upped their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $145.00 price target on Churchill Downs in a report on Friday, June 12th. Weiss Ratings lowered Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Profile

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.