Neo Ivy Capital Management Makes New $803,000 Investment in Churchill Downs, Incorporated $CHDN

Neo Ivy Capital Management purchased a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,276 shares of the company’s stock, valued at approximately $803,000.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on CHDN shares. Citizens Jmp boosted their price target on Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 14th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company reduced their target price on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Churchill Downs Stock Performance

Shares of CHDN opened at $83.83 on Friday. The company has a market capitalization of $5.84 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. Churchill Downs, Incorporated has a one year low of $82.67 and a one year high of $118.46. The company’s fifty day moving average price is $99.74 and its 200 day moving average price is $101.36.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $665.90 million during the quarter, compared to analysts’ expectations of $658.01 million. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

About Churchill Downs

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.