Churchill Downs, Incorporated $CHDN Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 535,309 shares of the company’s stock after selling 88,273 shares during the quarter. Janus Henderson Group PLC’s holdings in Churchill Downs were worth $48,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHDN. Geneos Wealth Management Inc. raised its stake in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the third quarter worth about $25,000. Parkside Financial Bank & Trust boosted its position in Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. Root Financial Partners LLC boosted 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 buying an additional 305 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs in the 4th quarter worth approximately $38,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHDN. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday. Finally, Mizuho upped their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $136.62.

Churchill Downs Stock Up 1.9%

Shares of CHDN stock opened at $84.30 on Friday. Churchill Downs, Incorporated has a twelve month low of $79.40 and a twelve month high of $118.35. The stock has a market cap of $5.88 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.54 and a beta of 0.67. The stock has a 50 day moving average of $86.81 and a 200 day moving average of $90.41. The company has a current ratio of 0.36, a quick ratio of 0.54 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting analysts’ consensus estimates of $3.45. The business had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $3.10 EPS. As a group, sell-side analysts expect that Churchill Downs, Incorporated will post 7.1 EPS for the current year.

Key Headlines Impacting Churchill Downs

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

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Company 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.