Churchill Downs Inc
At today's price, Churchill Downs Inc (CHDN) is priced for -4.7% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
At $88.28 the price pays about 16x company-wide operating income, which inverts to roughly negative 3% operating-profit growth per year for five years. In other words, the market is pricing Churchill Downs as a business in slow decline, while the company is actually setting records. The recent results contradict that pessimism. Q1 2026 delivered record earnings with EPS of $1.21 against a $1.02 estimate, revenue of $663 million, and adjusted EBITDA of $257 million, led by historical racing mach
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430 institutional managers reported holding CHDN in 13F filings for the quarter ended 2026-03-31. Together they hold about 79% of the company; the top 10 hold 36%. 67 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 4.1M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (5.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CHDN has cut its share count 9.6% over the past five years, spending $948.20M on repurchases. It pays a dividend, and has for 12 years running, raised 6 years straight; the current rate is $0.44 a share annually. Cash returned over the past three years: $91.40M in dividends and $669.20M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CHDN over the trailing three years: 2024: 1 buy totaling $495k; 2025: 3 buys totaling $1.30M. 12 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CHDN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-27 | -8.9% | -3.2% |
| 2023-10-26 | -3.0% | +25.5% |
| 2024-02-22 | +3.1% | +7.8% |
| 2024-04-25 | +4.6% | +8.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CHDN's latest 8-K filings: 2026-04-22 (items 2.02, 9.01); 2026-04-21 (items 5.07); 2026-02-25 (items 2.02, 9.01); 2025-10-22 (items 2.02, 9.01); 2025-08-27 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.