13,018 Shares in Churchill Downs, Incorporated $CHDN Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,018 shares of the company’s stock, valued at approximately $1,167,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $90,529,000. AQR Capital Management LLC grew its holdings in shares of Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Churchill Downs by 94.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after buying an additional 494,553 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Churchill Downs by 49.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after buying an additional 452,716 shares during the period. Finally, Vestor Capital LLC bought a new position in Churchill Downs in the 1st quarter valued at approximately $35,768,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CHDN shares. Wells Fargo & Company cut their target price on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Susquehanna lifted their price target on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Finally, Citizens Jmp cut their price target on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $136.88.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $90.82 on Monday. The business’s 50 day simple moving average is $86.93 and its 200 day simple moving average is $89.07. Churchill Downs, Incorporated has a one year low of $79.40 and a one year high of $118.35. The stock has a market capitalization of $6.33 billion, a PE ratio of 15.58, a PEG ratio of 0.86 and a beta of 0.68. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36.

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

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.