Point72 Asset Management L.P. Buys 100,230 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Point72 Asset Management L.P. grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 66.8% during the second quarter, Holdings Channel reports. The institutional investor owned 250,319 shares of the company’s stock after purchasing an additional 100,230 shares during the quarter. Point72 Asset Management L.P.’s holdings in Churchill Downs were worth $34,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC grew its stake in shares of Churchill Downs by 5.6% during the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after buying an additional 44,773 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Churchill Downs by 12.6% during the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock valued at $52,411,000 after buying an additional 47,269 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after buying an additional 35,337 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Churchill Downs by 113.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after buying an additional 246,769 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Churchill Downs by 6.6% during the fourth 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 last quarter. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHDN has been the topic of several recent analyst reports. Stifel Nicolaus raised their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Macquarie raised their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Mizuho raised their target price on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Stock Performance

Shares of CHDN opened at $133.39 on Friday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The company has a 50-day simple moving average of $137.87 and a two-hundred day simple moving average of $133.18. The firm has a market capitalization of $9.80 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97.

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