Jupiter Topco LLC Takes Position in Churchill Downs, Incorporated $CHDN

Jupiter Topco LLC acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 756,190 shares of the company’s stock, valued at approximately $67,787,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs in the third quarter valued at $25,000. Geneos Wealth Management Inc. grew its stake in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs during the 2nd quarter worth $29,000. Parkside Financial Bank & Trust boosted its position in shares of Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the period. Finally, Root Financial Partners LLC grew its position in Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 1.2%

Shares of NASDAQ CHDN opened at $86.51 on Friday. Churchill Downs, Incorporated has a 12 month low of $79.40 and a 12 month high of $118.35. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.83 and a beta of 0.68. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The business has a fifty day simple moving average of $87.21 and a 200-day simple moving average of $88.67.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same quarter in the previous year, the business earned $3.10 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHDN shares. Wells Fargo & Company lowered their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Citizens Jmp dropped their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Finally, Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research note on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $136.88.

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.