Churchill Downs

CHDN

Market cap $6.75B

Overview Fund Activity

96.32 USD

-2.50

2.53%

At close Updated Sep 12, 4:00 PM EDT

Pre-market

After hours

96.32

0.00

0%

1 day

-2.53%

5 days

-5.69%

1 month

-5.71%

3 months

-3.05%

6 months

-9.56%

Year to date

-26.8%

1 year

-31.32%

5 years

15.62%

10 years

318.42%

About: Churchill Downs Inc is a gaming entertainment, online wagering, and racing company. It operates through three business segments: Live and Historical Racing, Wagering Services, and Gaming. The Live and Historical Racing segment includes live and historical pari-mutuel racing. The Wagering Services segment includes the revenue and expenses from pari-mutuel wagers through TwinSpires, companies retail and online sports betting business and Gaming segment includes revenue and expenses for the casino properties and associated racetracks that support the casino license. The Gaming segment generates revenue and expenses from slot machines, video lottery terminals, video poker, HRMs, ancillary food and beverage services, hotel services, commission on pari-mutuel wagering, and racing events.

Employees: 8,870

Consumer Discretionary Gambling

0

Funds holding %

of 7,462 funds

0

Analysts bullish %

of 7 analysts

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

7% more repeat investments, than reductions

Existing positions increased: 153 | Existing positions reduced: 143

0% more first-time investments, than exits

New positions opened: 67 | Existing positions closed: 67

0.79% less ownership

Funds ownership: 76.69% [Q1] → 75.9% (-0.79%) [Q2]

1% less funds holding

Funds holding: 425 [Q1] → 419 (-6) [Q2]

12% less capital invested

Capital invested by funds: $6.31B [Q1] → $5.54B (-$768M) [Q2]

20% less funds holding in top 10

Funds holding in top 10: 5 [Q1] → 4 (-1) [Q2]

79% less call options, than puts

Call options by funds: $9.51M | Put options by funds: $46.2M

See Fund Rankings

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$116

20% upside

Avg. target

$135

41% upside

High target

$155

61% upside

7 analyst ratings

7 positive

100%

0 neutral

0%

0 negative

0%

Macquarie Chad Beynon	$155	Outperform Maintained	28 Jul 2025
Mizuho Ben Chaiken	$142	Outperform Maintained	25 Jul 2025
Barclays Brandt Montour	$131	Overweight Maintained	25 Jul 2025
Susquehanna Joseph Stauff	$126	Positive Maintained	23 Jul 2025
Truist Securities Barry Jonas	$145	Buy Maintained	16 Jul 2025
Stifel Jeffrey Stantial	$133	Buy Maintained	11 Jul 2025
JP Morgan Daniel Politzer	$116	Overweight Initiated	23 Jun 2025

See Analyst Rankings

Financial journalist opinion

Churchill Downs: Excellent Capital Allocation, With Shares Repurchased At The Right Time

Churchill Downs is undervalued, trading below historical and peer multiples, despite strong operational performance and robust capital allocation. Recent results show record revenues and industry-leading margins, with growth driven by M&A and HRM expansion, distinguishing it from typical casino peers. Aggressive share buybacks at low prices are expected to significantly boost future EPS, enhancing shareholder value even with moderate revenue growth.

Churchill Downs: Excellent Capital Allocation, With Shares Repurchased At The Right Time

Churchill Downs Incorporated Completes Acquisition of a Majority of Casino Salem Project in New Hampshire

LOUISVILLE, Ky., Aug. 27, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”) announced today that the Company has completed its previously announced purchase of a majority of the outstanding interests of a Salem, New Hampshire joint venture (“Casino Salem”) with the right to develop a charitable gaming, entertainment and dining venue.

Churchill Downs Incorporated Completes Acquisition of a Majority of Casino Salem Project in New Hampshire

Churchill Downs Incorporated (CHDN) Q2 2025 Earnings Call Transcript

Churchill Downs Incorporated (NASDAQ:CHDN ) Q2 2025 Earnings Conference Call July 24, 2025 9:00 AM ET Company Participants Marcia Ann Dall - Executive VP & CFO Sam Ullrich - Vice President of Investor Relations William C. Carstanjen - CEO & Director Conference Call Participants Barry Jonathan Jonas - Truist Securities, Inc., Research Division Benjamin Nicolas Chaiken - Mizuho Securities USA LLC, Research Division Brandt Antoine Montour - Barclays Bank PLC, Research Division Chad C.

Churchill Downs Incorporated (CHDN) Q2 2025 Earnings Call Transcript

For First Time Ever, NBC Sports to Present Kentucky Oaks in Primetime – Friday, May 1, 2026, on NBC and Peacock

The 152nd Kentucky Derby is Saturday, May 2, 2026, on NBC and Peacock The 152nd Kentucky Derby is Saturday, May 2, 2026, on NBC and Peacock

For First Time Ever, NBC Sports to Present Kentucky Oaks in Primetime – Friday, May 1, 2026, on NBC and Peacock

Zacks Investment Research

Churchill Downs (CHDN) Beats Q2 Earnings and Revenue Estimates

Churchill Downs (CHDN) came out with quarterly earnings of $3.1 per share, beating the Zacks Consensus Estimate of $3.03 per share. This compares to earnings of $2.89 per share a year ago.

Churchill Downs (CHDN) Beats Q2 Earnings and Revenue Estimates

Churchill Downs Incorporated Announces New $500 Million Share Repurchase Program

LOUISVILLE, Ky., July 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced today that the Company's Board of Directors approved a $500 million share repurchase program. The new share repurchase program replaces the prior $500 million program that was authorized in March 2025. The new share repurchase program includes and is not in addition to any repurchase authority remaining under the prior authorization. Share repurchases may be made at management's discretion from time to time in the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The repurchase program has no time limit and may be suspended or discontinued at any time.

Churchill Downs Incorporated Announces New $500 Million Share Repurchase Program

Churchill Downs Incorporated Reports 2025 Second Quarter Results

LOUISVILLE, Ky., July 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the second quarter ended June 30, 2025.

Churchill Downs Incorporated Reports 2025 Second Quarter Results

Zacks Investment Research

Insights Into Churchill Downs (CHDN) Q2: Wall Street Projections for Key Metrics

Besides Wall Street's top-and-bottom-line estimates for Churchill Downs (CHDN), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended June 2025.

Insights Into Churchill Downs (CHDN) Q2: Wall Street Projections for Key Metrics

Zacks Investment Research

Churchill Downs (CHDN) Reports Next Week: Wall Street Expects Earnings Growth

Churchill Downs (CHDN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Churchill Downs (CHDN) Reports Next Week: Wall Street Expects Earnings Growth

Churchill Downs Incorporated Announces Definitive Agreements to Acquire a Majority of Casino Salem Project in New Hampshire

LOUISVILLE, Ky., July 14, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”, “CDI”, “we”) announced today that it has signed definitive agreements to acquire a majority of the outstanding equity interests (the “Salem Transaction”) of a Salem, New Hampshire joint venture (“Casino Salem”) with the right to develop a charitable gaming, entertainment and dining destination featuring historical horse racing machines (“HRMs”).

Churchill Downs Incorporated Announces Definitive Agreements to Acquire a Majority of Casino Salem Project in New Hampshire

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