Lighthouse Investment Partners LLC Makes New $4.49 Million Investment in Churchill Downs, Incorporated $CHDN

Lighthouse Investment Partners LLC bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 46,300 shares of the company’s stock, valued at approximately $4,492,000.

A number of other hedge funds have also made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in Churchill Downs by 4.7% in the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock valued at $254,000 after acquiring an additional 118 shares in the last quarter. GAMMA Investing LLC grew its holdings in Churchill Downs by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $67,000 after acquiring an additional 123 shares in the last quarter. Aurora Investment Counsel increased its position in shares of Churchill Downs by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 24,702 shares of the company’s stock worth $2,396,000 after purchasing an additional 146 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Churchill Downs by 3.6% in the 3rd quarter. Global Retirement Partners LLC now owns 4,520 shares of the company’s stock worth $438,000 after purchasing an additional 156 shares during the last quarter. Finally, Nebula Research & Development LLC raised its stake in shares of Churchill Downs by 4.8% in the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $86.20 on Tuesday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.39, a P/E/G ratio of 1.43 and a beta of 0.65. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46. The business’s fifty day moving average price is $96.31 and its two-hundred day moving average price is $100.57.

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

Analyst Ratings Changes

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

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.