Interval Partners LP Makes New $18.32 Million Investment in Churchill Downs, Incorporated $CHDN

Interval Partners LP acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 161,045 shares of the company’s stock, valued at approximately $18,324,000.

A number of other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Churchill Downs by 6,547.6% in the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after purchasing an additional 51,857 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Churchill Downs by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock worth $21,326,000 after purchasing an additional 16,646 shares during the period. UBS Group AG boosted its holdings in shares of Churchill Downs by 26.9% in the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after purchasing an additional 74,421 shares during the period. Fieldview Capital Management LLC purchased a new position in shares of Churchill Downs in the 3rd quarter worth approximately $3,869,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Churchill Downs in the 3rd quarter worth approximately $1,158,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

CHDN opened at $87.76 on Thursday. The business has a fifty day moving average of $89.70 and a 200 day moving average of $96.39. Churchill Downs, Incorporated has a 52-week low of $80.24 and a 52-week high of $118.46. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock has a market cap of $6.12 billion, a P/E ratio of 16.25, a PEG ratio of 0.59 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. During the same quarter in the previous year, the business earned $1.07 EPS. Churchill Downs’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CHDN. Mizuho lifted their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Truist Financial set a $145.00 target price on Churchill Downs in a report on Friday, June 12th. Finally, Citizens Jmp lifted their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

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.