Churchill Downs, Incorporated $CHDN Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 94.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,533 shares of the company’s stock after selling 319,555 shares during the quarter. Pacer Advisors Inc.’s holdings in Churchill Downs were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Churchill Downs in the 4th quarter valued at $90,529,000. AQR Capital Management LLC raised its position in shares of Churchill Downs by 22,974.8% in the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after buying an additional 784,591 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Churchill Downs by 94.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after buying an additional 494,553 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Churchill Downs by 49.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after buying an additional 452,716 shares in the last quarter. Finally, Vestor Capital LLC acquired a new position in Churchill Downs during the first quarter worth about $35,768,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 1.1%

CHDN stock opened at $87.86 on Friday. The firm has a market cap of $6.12 billion, a PE ratio of 15.07, a PEG ratio of 0.83 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50 day moving average price is $86.80 and its 200-day moving average price is $89.69. Churchill Downs, Incorporated has a one year low of $79.40 and a one year high of $118.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. During the same period in the prior year, the business posted $3.10 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CHDN. Wells Fargo & Company cut their price target on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Truist Financial set a $145.00 price objective on Churchill Downs in a research note on Friday, June 12th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, July 31st. Mizuho raised their target price on Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, Citizens Jmp reduced their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $136.88.

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.