Vanguard Group Inc. Cuts Stake in Churchill Downs, Incorporated $CHDN

Vanguard Group Inc. reduced its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 6,359,799 shares of the company’s stock after selling 289,383 shares during the quarter. Vanguard Group Inc. owned 0.09% of Churchill Downs worth $616,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Churchill Downs by 29.8% during the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after acquiring an additional 784 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after acquiring an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Churchill Downs by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after purchasing an additional 15,161 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Churchill Downs in the 2nd quarter worth $229,000. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $125.00 target price (up previously from $115.00) on shares of Churchill Downs in a research report on Monday, January 5th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Citizens Jmp raised their price target on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.10.

Churchill Downs Stock Up 0.3%

CHDN stock opened at $94.00 on Tuesday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The business’s 50-day moving average is $103.95 and its two-hundred day moving average is $102.03. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $119.11.

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.