Assenagon Asset Management S.A. Decreases Stake in Churchill Downs, Incorporated $CHDN

Assenagon Asset Management S.A. cut its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 59.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,766 shares of the company’s stock after selling 110,159 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Churchill Downs worth $7,652,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CHDN. Geneos Wealth Management Inc. boosted its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the period. Elequin Capital LP acquired a new position in Churchill Downs in the first quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Churchill Downs by 159.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after acquiring an additional 253 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Churchill Downs during the first quarter worth $60,000. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial lowered their price target on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Barclays upped their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. JMP Securities dropped their target price on shares of Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating for the company in a research report on Tuesday, May 27th. Macquarie boosted their price objective on Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Mizuho boosted their target price on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Churchill Downs presently has a consensus rating of “Buy” and an average target price of $136.50.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $96.78 on Wednesday. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.79 and a beta of 0.86. The stock’s fifty day moving average price is $102.95 and its two-hundred day moving average price is $101.72. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The business had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter in the prior year, the business posted $2.89 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.