Vestor Capital LLC Takes Position in Churchill Downs, Incorporated $CHDN

Vestor Capital LLC bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 398,177 shares of the company’s stock, valued at approximately $35,768,000. Churchill Downs comprises approximately 2.6% of Vestor Capital LLC’s portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired 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 Churchill Downs by 22,974.8% during the 2nd 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 in the last quarter. Balyasny Asset Management L.P. increased its holdings in Churchill Downs by 94.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after purchasing an additional 494,553 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Churchill Downs by 49.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after purchasing an additional 452,716 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Churchill Downs by 146.1% in the 4th quarter. Clearbridge Investments LLC now owns 610,465 shares of the company’s stock valued at $69,459,000 after purchasing an additional 362,369 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 6.6%

NASDAQ:CHDN opened at $82.69 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The business’s 50 day moving average is $86.83 and its two-hundred day moving average is $90.46. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The company has a market cap of $5.76 billion, a PE ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a return on equity of 45.12% and a net margin of 13.82%.The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same period in the previous year, the business earned $3.10 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Trending Headlines about Churchill Downs

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Churchill Downs agreed to acquire NYRA’s 49% stake in United Tote, giving the company full ownership of the pari-mutuel wagering technology and services provider. The deal could strengthen CDI’s racing-technology platform and provide additional long-term growth opportunities. United Tote acquisition announcement
• Positive Sentiment: Management outlined approximately $285 million of Victory Run development ahead of the 2028 Kentucky Derby, alongside an expanded Homestretch Club and upgraded infield seating. These projects are intended to increase premium hospitality capacity and future racetrack revenue. Victory Run buildout and casino sales
• Neutral Sentiment: CDI is reviewing strategic alternatives for nine regional casino properties, including potential sales. Divestitures could generate cash and sharpen the company’s portfolio, but the eventual proceeds, timing and impact on recurring earnings remain uncertain. Strategic gaming-asset review
• Negative Sentiment: Second-quarter adjusted earnings were $3.45 per share, matching some reported estimates but below the Zacks consensus of $3.51. Revenue rose 4.9% year over year to $980 million and exceeded the roughly $977 million consensus, but the modest revenue beat did not offset concerns that earnings performance was insufficient relative to investor expectations. Q2 earnings estimate comparison
• Negative Sentiment: The sharp selloff and unusually heavy trading indicate that investors reacted negatively to the earnings call, likely reflecting concerns about margins, forward expectations or the sustainability of recent Derby-driven strength. The stock remains below its 50-day and 200-day moving averages, adding technical pressure.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CHDN shares. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho lifted their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $145.00 price target on shares of Churchill Downs in a report on Friday, June 12th. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.50.

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.