AQR Capital Management LLC Purchases Shares of 1,500 Churchill Downs Incorporated (NASDAQ:CHDN)

AQR Capital Management LLC purchased a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,500 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also added to or reduced their stakes in the company. Armistice Capital LLC lifted its holdings in Churchill Downs by 4.1% during the second quarter. Armistice Capital LLC now owns 124,254 shares of the company’s stock valued at $17,346,000 after purchasing an additional 4,950 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Churchill Downs by 358.1% during the second quarter. Squarepoint Ops LLC now owns 14,696 shares of the company’s stock valued at $2,052,000 after buying an additional 11,488 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after buying an additional 100,230 shares during the last quarter. Royal Capital Wealth Management LLC bought a new stake in shares of Churchill Downs during the second quarter valued at approximately $201,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Churchill Downs during the second quarter valued at approximately $2,043,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.3 %

Shares of NASDAQ:CHDN opened at $140.60 on Friday. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50 day moving average price is $137.70 and its 200-day moving average price is $135.23. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $858.59 million. During the same period in the prior year, the business earned $2.24 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CHDN has been the topic of several research reports. Truist Financial restated a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Macquarie boosted their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group lifted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $159.11.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.