Sapient Capital LLC Grows Stock Holdings in Churchill Downs, Incorporated $CHDN

Sapient Capital LLC lifted its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 596.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 418,966 shares of the company’s stock after purchasing an additional 358,845 shares during the quarter. Sapient Capital LLC’s holdings in Churchill Downs were worth $37,556,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Churchill Downs by 0.6% in the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock valued at $223,424,000 after purchasing an additional 11,523 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after buying an additional 7,687 shares in the last quarter. Geode Capital Management LLC grew its holdings in Churchill Downs by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock valued at $151,089,000 after buying an additional 32,445 shares in the last quarter. Boston Partners increased its stake in shares of Churchill Downs by 0.9% in the 3rd quarter. Boston Partners now owns 1,257,725 shares of the company’s stock worth $121,998,000 after acquiring an additional 11,653 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Churchill Downs by 12.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,145,413 shares of the company’s stock worth $130,325,000 after acquiring an additional 127,687 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Churchill Downs stock opened at $87.86 on Monday. The company’s 50 day simple moving average is $86.80 and its 200-day simple moving average is $89.56. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.83 and a beta of 0.68. Churchill Downs, Incorporated has a 1 year low of $79.40 and a 1 year high of $118.35. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The firm had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $977.38 million. During the same quarter last year, the company posted $3.10 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on CHDN shares. Citizens Jmp reduced their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a report on Friday, July 31st. Wells Fargo & Company cut their price objective on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Finally, Truist Financial set a $145.00 price target on shares of Churchill Downs in a research note on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $136.88.

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.