Lighthouse Investment Partners LLC Invests $4.49 Million in Churchill Downs, Incorporated $CHDN

Lighthouse Investment Partners LLC bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,300 shares of the company’s stock, valued at approximately $4,492,000. Lighthouse Investment Partners LLC owned approximately 0.07% of Churchill Downs at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. London Co. of Virginia increased its stake in Churchill Downs by 38.7% in the second quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock valued at $302,402,000 after purchasing an additional 835,294 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after buying an additional 784,591 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Churchill Downs by 52.3% in the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock valued at $141,376,000 after purchasing an additional 500,395 shares during the period. Alua Capital Management LP acquired a new position in Churchill Downs in the 3rd quarter valued at $48,532,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Churchill Downs by 49.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after acquiring an additional 452,716 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CHDN shares. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Citizens Jmp raised their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Finally, Wells Fargo & Company reduced their price objective on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $86.20 on Tuesday. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The firm’s fifty day simple moving average is $96.31 and its 200 day simple moving average is $100.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.43 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The business had revenue of $665.90 million during the quarter, compared to analyst estimates of $658.01 million. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs 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.