11,432 Shares in Churchill Downs, Incorporated $CHDN Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,432 shares of the company’s stock, valued at approximately $1,027,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Churchill Downs in the fourth quarter worth about $90,529,000. AQR Capital Management LLC grew its stake 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 valued at $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after purchasing an additional 494,553 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Churchill Downs by 49.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after purchasing an additional 452,716 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Churchill Downs in the 4th quarter worth approximately $43,434,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Mizuho increased their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Truist Financial set a $145.00 target price on shares of Churchill Downs in a report on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $138.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $86.29 on Friday. The firm’s 50 day simple moving average is $87.08 and its 200 day simple moving average is $92.38. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.56 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last issued 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 net margin of 13.21% and a return on equity of 43.50%. The firm 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 company earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast 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.