Ieq Capital LLC Buys New Shares in Churchill Downs, Incorporated $CHDN

Ieq Capital LLC bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, HoldingsChannel reports. The firm bought 13,134 shares of the company’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Churchill Downs in the 2nd quarter valued at approximately $555,948,000. Norges Bank acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $90,529,000. AQR Capital Management LLC grew its holdings in shares of Churchill Downs by 22,974.8% during the 2nd 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 in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Churchill Downs by 94.1% during the fourth 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 third 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 period. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CHDN shares. Truist Financial set a $145.00 target price on Churchill Downs in a research report on Friday, June 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Mizuho raised their price objective on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company decreased their target price on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.88.

Churchill Downs Stock Down 1.2%

NASDAQ CHDN opened at $87.57 on Thursday. The stock’s 50 day simple moving average is $87.25 and its 200 day simple moving average is $88.72. Churchill Downs, Incorporated has a one year low of $79.40 and a one year high of $118.35. The firm has a market cap of $6.10 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.84 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.10 EPS. As a group, sell-side analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal 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.