Several hedge funds have adjusted their stakes in Churchill Downs. Jennison Associates increased its holdings by 5.6% to own 847,847 shares worth $104.9 million. Westfield Capital raised its ownership by 12.6% to 423,521 shares valued at $52.4 million. Goldman Sachs grew its stake by 6.6% to 151,377 shares, worth $20.4 million. Harbor Capital’s holdings rose by 259.3%, totaling 19,857 shares worth $2.8 million. Assenagon Asset Management boosted its stake by an impressive 10,126.1% to 195,829 shares valued at $27.3 million. Overall, institutional investors own 82.59% of the company.
Churchill Downs Stock Down 1.8%
Churchill Downs shares opened at $138.01. The company has a current ratio of 0.57, a quick ratio of 0.57, and a debt-to-equity ratio of 4.65. Its market cap is $10.14 billion, with a P/E ratio of 30.74 and a 12-month range of $106.45 to $146.64. The current averages are $137.79 over fifty days and $135.41 over two hundred days.
Churchill Downs reported earnings of $2.89 per share, exceeding estimates of $2.71, with revenues of $890.7 million for the last quarter. Revenue increased by 15.9% from last year, and analysts expect 6.13 EPS this year.
Wall Street Analyst Insights
Analysts have recently updated their ratings for Churchill Downs. Jefferies increased its price target to $160 with a “buy” rating. JMP Securities set a target of $166 with a “market outperform” rating. Wells Fargo raised its target from $161 to $168, maintaining an “overweight” rating. Mizuho also lifted their target to $157. Most analysts currently rate the stock as a “Moderate Buy” with a consensus target price of $161.75.
About Churchill Downs
Churchill Downs Incorporated is a U.S. racing and gaming company. It operates in three segments: Live and Historical Racing, TwinSpires (online wagering), and Gaming.
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