Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 66.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 250,319 shares of the company’s stock after purchasing an additional 100,230 shares during the quarter. Point72 Asset Management L.P. owned about 0.34% of Churchill Downs worth $34,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of Churchill Downs by 5.6% during the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after purchasing an additional 44,773 shares during the period. Westfield Capital Management Co. LP lifted its position in Churchill Downs by 12.6% during the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after buying an additional 47,269 shares during the period. Balyasny Asset Management L.P. boosted its stake in Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Churchill Downs by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock valued at $20,425,000 after buying an additional 9,354 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Churchill Downs by 259.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after acquiring an additional 14,331 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JMP Securities boosted their price objective on shares of Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Macquarie boosted their price target on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Mizuho raised their price objective on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $139.03 on Wednesday. The firm’s 50 day moving average is $137.13 and its two-hundred day moving average is $134.55. The firm has a market capitalization of $10.22 billion, a P/E ratio of 30.96, a PEG ratio of 2.01 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $2.24 EPS. Analysts anticipate that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.