PEAK6 LLC Takes Position in Churchill Downs, Incorporated $CHDN

PEAK6 LLC acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, Holdings Channel reports. The institutional investor acquired 15,126 shares of the company’s stock, valued at approximately $1,356,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Churchill Downs in the second quarter worth approximately $555,948,000. State Street Corp lifted its stake in shares of Churchill Downs by 0.6% in the 4th quarter. State Street Corp now owns 1,956,295 shares of the company’s stock valued at $223,424,000 after purchasing an additional 11,523 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Churchill Downs by 0.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after purchasing an additional 7,687 shares in the last quarter. Geode Capital Management LLC increased its position in Churchill Downs by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after buying an additional 32,445 shares during the last quarter. Finally, Boston Partners increased its position in Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock worth $121,998,000 after buying an additional 11,653 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CHDN shares. Susquehanna boosted their price target on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Truist Financial set a $145.00 price objective on Churchill Downs in a report on Friday, June 12th. Citizens Jmp reduced their target price on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a report on Friday, July 31st. Wells Fargo & Company decreased their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.88.

Churchill Downs Stock Performance

Churchill Downs stock opened at $93.71 on Monday. The business’s 50-day simple moving average is $87.31 and its 200-day simple moving average is $88.83. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The firm has a market capitalization of $6.53 billion, a PE ratio of 16.07, a PEG ratio of 0.89 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.

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

Churchill Downs Company 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.