Sei Investments Co. Grows Stock Position in Churchill Downs, Incorporated $CHDN

Sei Investments Co. boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 97.5% in the first quarter, Holdings Channel.com reports. The firm owned 105,917 shares of the company’s stock after acquiring an additional 52,286 shares during the period. Sei Investments Co.’s holdings in Churchill Downs were worth $9,516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp grew its position in shares of Churchill Downs by 6,547.6% during the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after buying an additional 51,857 shares in the last quarter. UBS Group AG raised its stake in Churchill Downs by 26.9% during the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after acquiring an additional 74,421 shares during the period. M&T Bank Corp bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $4,266,000. Teachers Retirement System of The State of Kentucky lifted its stake in Churchill Downs by 126.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock valued at $5,326,000 after buying an additional 26,105 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Churchill Downs by 38.2% during the 1st quarter. Bessemer Group Inc. now owns 46,141 shares of the company’s stock valued at $4,145,000 after purchasing an additional 12,744 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CHDN. Citizens Jmp decreased their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research note on Friday. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday. Wells Fargo & Company reduced 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 note on Friday. Mizuho raised their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

More Churchill Downs News

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Stock Up 1.9%

Shares of CHDN stock opened at $84.30 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. Churchill Downs, Incorporated has a 12 month low of $79.40 and a 12 month high of $118.35. The stock has a 50 day moving average of $86.81 and a 200-day moving average of $90.41. The firm has a market cap of $5.88 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same period last year, the business posted $3.10 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Churchill Downs, Incorporated will post 7.1 EPS for the current year.

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.