XTX Topco Ltd Makes New $889,000 Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

XTX Topco Ltd bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,369 shares of the company’s stock, valued at approximately $889,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHDN. William Blair Investment Management LLC acquired a new position in Churchill Downs during the second quarter worth $125,418,000. Norges Bank purchased a new stake in shares of Churchill Downs in the 4th quarter worth about $94,137,000. Balyasny Asset Management L.P. grew its stake in Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after acquiring an additional 246,769 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after acquiring an additional 193,914 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Churchill Downs during the second quarter worth about $26,384,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Churchill Downs stock opened at $137.68 on Friday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The firm has a 50 day moving average price of $138.60 and a 200 day moving average price of $132.73.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period in the prior year, the firm posted $2.24 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts predict that Churchill Downs Incorporated will post 6.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Macquarie boosted their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price objective on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Stifel Nicolaus upped their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, JMP Securities lifted their price target on shares of Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.