Two Sigma Securities LLC Acquires New Position in Churchill Downs, Incorporated $CHDN

Two Sigma Securities LLC bought a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,510 shares of the company’s stock, valued at approximately $1,480,000.

Other hedge funds have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new stake in Churchill Downs in the third quarter worth about $25,000. Kimelman & Baird LLC bought a new position in shares of Churchill Downs in the second quarter valued at $27,000. Geneos Wealth Management Inc. boosted its position in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Churchill Downs in the second quarter worth about $29,000. Finally, Parkside Financial Bank & Trust grew its position in Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHDN has been the subject of a number of research analyst reports. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research report on Friday, June 12th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Citizens Jmp dropped their target price on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st. Susquehanna raised their price target on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Finally, Mizuho lifted their price target on Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $136.88.

Churchill Downs Price Performance

Shares of CHDN stock opened at $87.48 on Tuesday. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The stock’s fifty day moving average is $87.27 and its 200-day moving average is $88.57. 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 $6.10 billion, a PE ratio of 15.01, a PEG ratio of 0.85 and a beta of 0.68.

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