Gotham Asset Management LLC Acquires 85,799 Shares of Churchill Downs, Incorporated $CHDN

Gotham Asset Management LLC boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 20.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 496,205 shares of the company’s stock after buying an additional 85,799 shares during the quarter. Gotham Asset Management LLC’s holdings in Churchill Downs were worth $56,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. Norges Bank bought a new stake in Churchill Downs during the 4th quarter valued at $90,529,000. AQR Capital Management LLC raised its holdings in Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after buying an additional 784,591 shares during the last quarter. Alua Capital Management LP bought a new stake in Churchill Downs during the 3rd quarter valued at $48,532,000. Balyasny Asset Management L.P. raised its holdings in Churchill Downs by 94.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after buying an additional 494,553 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Churchill Downs by 49.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after buying an additional 452,716 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial set a $145.00 price target on shares of Churchill Downs in a report on Friday, June 12th. Wells Fargo & Company restated an “overweight” rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Mizuho upped their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Stock Down 2.3%

Shares of NASDAQ CHDN opened at $87.76 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a 12 month low of $80.24 and a 12 month high of $118.46. The firm has a market capitalization of $6.12 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.59 and a beta of 0.68. The firm has a fifty day simple moving average of $89.70 and a two-hundred day simple moving average of $96.39.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The firm had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. Equities analysts expect that Churchill Downs, Incorporated will post 7.32 earnings per share for the current 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.