Churchill Downs, Incorporated $CHDN Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,376,690 shares of the company’s stock after selling 7,399 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.98% of Churchill Downs worth $123,668,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Churchill Downs by 6,547.6% during the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock valued at $5,990,000 after buying an additional 51,857 shares during the last quarter. UBS Group AG boosted its stake in Churchill Downs by 26.9% in the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after acquiring an additional 74,421 shares during the period. M&T Bank Corp acquired a new position in Churchill Downs in the fourth quarter valued at approximately $4,266,000. Teachers Retirement System of The State of Kentucky boosted its position in Churchill Downs by 126.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock valued at $5,326,000 after purchasing an additional 26,105 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Churchill Downs by 38.2% during the first quarter. Bessemer Group Inc. now owns 46,141 shares of the company’s stock valued at $4,145,000 after buying an additional 12,744 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of research analyst reports. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research note on Friday, June 12th. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho upped their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp increased their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $86.50 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm’s fifty day moving average price is $86.77 and its two-hundred day moving average price is $91.28. The firm has a market capitalization of $6.03 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.35.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. As a group, research analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

About Churchill Downs

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.