Trexquant Investment 13F: Adds $13M to CHDN Stake

Trexquant Investment Grows Churchill Downs Position

Trexquant Investment expanded its stake in Churchill Downs Incorporated NASDAQGS:CHDN during the period, lifting its position by 121.1%. According to a Form 13F filing with the U.S. Securities and Exchange Commission, the quantitative investment firm bought an additional 146,854 shares. That expansion brought the firm's total holdings to 268,086 shares valued at approximately $23.31 million.

Inside the Portfolio Shift

Prior to this purchase, the fund held 121,232 shares of the racing and gaming operator. The sizeable addition more than doubled the share count inside the portfolio. Because 13F filings cover past quarters, the snapshot captures portfolio weightings at a specific point in time and might not reflect active trading today.

Churchill Downs Shares Trade Near Moving Average

The stock traded around $86.94 recently, resting near its 50-day moving average of $86.36. Shares have fluctuated between a 52-week low of $79.40 and a 52-week high of $118.35. The company carries a price-to-earnings ratio of 13.91 and a forward price-to-earnings ratio of 11.06.

Recent Earnings Performance

For its recent financial reporting period, Churchill Downs posted $2.99 billion in revenue alongside a net margin of 13.80%. The company delivered an earnings per share figure of $5.89 and a return on equity of 33.85%. Revenue grew 4.9% compared to the prior period.

Analysts Set New Price Targets

Several financial firms have updated their outlooks on the gaming operator in recent months. On October 13, 2026, Citizens maintained a market outperform rating while adjusting its price target to $131.00 from $137.00. Earlier, Wolfe Research initiated coverage on September 2, 2026, with an outperform rating and an 119.00 dollar target. Mizuho maintained an outperform rating with a $157.00 target on August 3, 2026. Wells Fargo kept an overweight rating on July 31, 2026, setting a target of $117.00, after an earlier target of $120.00 on July 14, 2026. Citizens also maintained a market outperform rating with a $137.00 target on July 31, 2026, while Susquehanna held a positive rating with a $124.00 target on the same day. Overall, 12 analysts follow the stock, generating a consensus strong buy recommendation and a mean price target of $130.83.

Operations at Churchill Downs Incorporated

Churchill Downs Incorporated operates live and historical racing entertainment venues, online wagering platforms, and regional casino gaming properties. The enterprise runs racing facilities, offers online pari-mutuel horse wagering via digital channels, and manages destination casinos and hotels across multiple states. Founded in 1875, the company is headquartered in Louisville, Kentucky, and employs 6,600 people.

What to Watch at CHDN

The company is scheduled to release its next set of financial results on October 28, 2026. Investors tracking institutional moves will also await subsequent SEC filings to see if Trexquant maintains or adjusts its position further.