Menta Capital LLC Makes New $1.09 Million Investment in Churchill Downs, Inc. (NASDAQ:CHDN)

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Menta Capital LLC acquired a new position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,501 shares of the company’s stock, valued at approximately $1,093,000.

Other large investors have also recently bought and sold shares of the company. Oakworth Capital Inc. lifted its holdings in Churchill Downs by 200.0% during the 1st quarter. Oakworth Capital Inc. now owns 900 shares of the company’s stock worth $81,000 after buying an additional 600 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Churchill Downs by 206.8% in the 1st quarter. Systematic Financial Management LP now owns 198,109 shares of the company’s stock valued at $17,881,000 after purchasing an additional 133,526 shares during the period. Geode Capital Management LLC lifted its stake in shares of Churchill Downs by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock valued at $36,695,000 after purchasing an additional 16,314 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Churchill Downs by 139.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,098 shares of the company’s stock valued at $189,000 after purchasing an additional 1,220 shares during the period. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Churchill Downs by 198.0% in the 1st quarter. MetLife Investment Advisors LLC now owns 36,489 shares of the company’s stock valued at $3,294,000 after purchasing an additional 24,246 shares during the period. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Churchill Downs from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. BidaskClub raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Telsey Advisory Group increased their price target on Churchill Downs from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, July 1st. Finally, Susquehanna Bancshares assumed coverage on Churchill Downs in a research note on Wednesday, July 24th. They issued a “positive” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Churchill Downs has an average rating of “Hold” and a consensus target price of $132.20.

In related news, SVP Austin W. Miller sold 5,900 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $117.31, for a total transaction of $692,129.00. Following the sale, the senior vice president now owns 40,494 shares of the company’s stock, valued at approximately $4,750,351.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.05% of the company’s stock.

Shares of CHDN stock traded down $0.67 during trading hours on Tuesday, reaching $123.13. The company had a trading volume of 9,063 shares, compared to its average volume of 247,049. The company has a 50 day moving average of $119.28 and a 200 day moving average of $103.26. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 1.41 and a beta of 1.23. Churchill Downs, Inc. has a 1-year low of $74.58 and a 1-year high of $132.73.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.01). The business had revenue of $477.40 million for the quarter, compared to analyst estimates of $469.85 million. Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $7.71 EPS. As a group, sell-side analysts forecast that Churchill Downs, Inc. will post 4.29 EPS for the current fiscal year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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