64,006 Churchill Downs, Incorporated $CHDN Shares Acquired by Skylands Capital LLC

Skylands Capital LLC lifted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 62.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,256 shares of the company’s stock after acquiring an additional 64,006 shares during the quarter. Churchill Downs makes up approximately 1.6% of Skylands Capital LLC’s investment portfolio, making the stock its 15th largest position. Skylands Capital LLC owned approximately 0.24% of Churchill Downs worth $12,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in Churchill Downs in the second quarter valued at approximately $555,948,000. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth approximately $92,340,000. Bank of America Corp DE acquired a new position in shares of Churchill Downs during the 2nd quarter worth approximately $69,099,000. Jupiter Topco LLC bought a new stake in shares of Churchill Downs during the 2nd quarter worth approximately $67,787,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Churchill Downs during the 2nd quarter worth approximately $39,781,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.3%

Churchill Downs stock opened at $82.79 on Thursday. Churchill Downs, Incorporated has a 52 week low of $73.08 and a 52 week high of $118.35. 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 stock has a market capitalization of $5.77 billion, a P/E ratio of 14.20, a PEG ratio of 0.87 and a beta of 0.77. The stock has a 50-day simple moving average of $83.48 and a 200 day simple moving average of $86.59.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.45. The firm had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.10 earnings per share. Analysts expect that Churchill Downs, Incorporated will post 7.04 earnings per share for the current year.

Churchill Downs News Roundup

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Truist reported that Churchill Downs’ regional casinos are attracting significant interest, potentially from Boyd Gaming and Monarch Casino & Resort. Possible strategic activity or asset-sale interest could highlight the value of the company’s casino operations. Truist: Churchill Downs Regional Casinos Drawing Ample Interest
• Positive Sentiment: Churchill Downs named Visa its preferred payment partner for the Kentucky Derby, potentially supporting smoother transactions and customer engagement at one of the company’s highest-profile events. Churchill Downs Names Visa Preferred Payment Partner for Kentucky Derby
• Neutral Sentiment: Susquehanna cut its price target from $124 to $115 but retained a positive rating. JPMorgan reduced its target from $123 to $118 while maintaining an overweight rating, and Truist lowered its target from $145 to $140 while keeping a buy rating. The revisions reduce near-term expectations, although all three firms still see substantial upside from recent levels. Analyst price target updates
• Negative Sentiment: Wall Street is preparing for Churchill Downs’ upcoming earnings report, but Zacks said the company lacks the two key indicators typically associated with a likely earnings beat. That may be weighing on the stock ahead of results, despite expectations for year-over-year earnings growth. Churchill Downs Reports Next Week: Wall Street Expects Earnings Growth

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHDN. Truist Financial cut their price objective on Churchill Downs from $145.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings upgraded shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Citigroup restated a “market outperform” rating on shares of Churchill Downs in a report on Tuesday, October 13th. Royal Bank Of Canada set a $131.00 price target on shares of Churchill Downs in a research report on Tuesday, October 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target (up from $117.00) on shares of Churchill Downs in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.80.

Churchill Downs Company Profile

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.