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

Trexquant Investment has significantly increased its position in Churchill Downs Incorporated (NasdaqGS: CHDN). According to its latest 13F filing with the SEC, the fund boosted its holdings by 121%, adding 146,854 shares to bring its total to 268,086 shares. This stake is valued at approximately $23.3 million as of the filing date.

What Changed in Trexquant Investment's Churchill Downs Position

Trexquant Investment's decision to increase its stake in Churchill Downs reflects a substantial change in its investment strategy. Prior to the filing, Trexquant held 121,232 shares. The recent addition of 146,854 shares marks a 121% increase, bringing its total holdings to 268,086 shares, valued at $23.3 million.

Other Institutional Activity in Churchill Downs

Other major investors have also been active in Churchill Downs. BlackRock, Inc. added 250,104 shares, increasing its holdings to 6,453,086 shares valued at $579.7 million. Vanguard Portfolio Management LLC initiated a new position with 2,956,541 shares worth $265.6 million. Meanwhile, London Co of Virginia reduced its stake by 26,902 shares, leaving it with 2,593,821 shares valued at $233 million. State Street Corp increased its holdings by 45,789 shares, ending with 2,002,084 shares worth approximately $179.8 million.

Churchill Downs Incorporated Stock Up 9.4%

Shares of Churchill Downs are trading near $86.94. The company has a market capitalization of about $6.06 billion and a P/E ratio of 16.01, indicating its earnings relative to its share price. The stock's 52-week range has been between $80.24 and $118.46. Its 50-day moving average is $89.98, while the 200-day moving average is $96.95. The company's current ratio stands at 0.541, with a quick ratio of 0.365, and a debt-to-equity ratio of 438.29.

Recent Earnings

Churchill Downs reported revenues of $2.95 billion, showing a growth of 3.1% from the previous period. The company posted an earnings per share (EPS) of $5.43, with a net margin of 13.2% and a return on equity of 35%. The next earnings report is expected on July 29, 2026.

Dividend

Churchill Downs offers a dividend with an annual rate of $0.44, yielding 0.5%. The dividend payout ratio is a modest 8.1%, indicating a careful balance between rewarding shareholders and retaining earnings for growth.

Insider Buying and Selling at Churchill Downs Incorporated

Recent insider activity shows several purchases. Daniel Harrington, Douglas Grissom, Richard Alex Rankin, Paul Varga, Karole Lloyd, and Andrea Carter each acquired 2,257 shares on April 21, 2026. These transactions were not part of a pre-planned trading agreement.

Analysts Set New Price Targets

On May 19, 2026, Macquarie maintained its buy rating on Churchill Downs with a price target of $145. Mizuho also maintained a buy rating with a target of $155 on April 24, 2026. The consensus among analysts is a strong buy, with an average target price of $137.25 based on 12 analyst opinions.

About Churchill Downs

Churchill Downs Incorporated, headquartered in Louisville, Kentucky, operates a variety of entertainment venues including live racing tracks and casinos. It also manages online wagering platforms like TwinSpires. The company, led by CEO William C. Carstanjen, has about 6,600 employees and is part of the consumer cyclical sector, specifically in the gambling industry.

Bottom Line

Trexquant Investment's increased stake in Churchill Downs highlights a growing interest in the company. Investors often track such filings to gauge institutional confidence. It's crucial to remember that 13F filings are retrospective and may not reflect current positions.