BlackRock Amends Churchill Downs Stake, Signals Continued Confidence

TL;DR

**BlackRock still owns a big chunk of Churchill Downs, signaling long-term confidence.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, reporting its ownership of Churchill Downs Inc. common stock as of December 31, 2023. This amendment, number 8, indicates BlackRock continues to hold a significant passive stake in the company. This matters to investors because BlackRock is a major institutional investor, and its continued, albeit slightly adjusted, holding signals ongoing confidence in Churchill Downs, which could influence other investors' perceptions and the stock's stability.

Why It Matters

This filing shows that a major institutional investor, BlackRock, maintains a substantial, passive ownership in Churchill Downs Inc., which can be a positive signal for the company's stability and future prospects.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in strategy.

Analyst Insight

Investors should note BlackRock's continued passive stake as a sign of institutional confidence, but this filing alone doesn't suggest immediate buying or selling action. It's a routine update, not a change in investment thesis.

Key Players & Entities

• BlackRock Inc. (company) — filing an amendment to its ownership stake
• Churchill Downs Inc. (company) — the subject company whose stock is being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the date the SC 13G/A amendment was filed

FAQ

From the Filing

0001086364-24-003690.txt : 20240125 0001086364-24-003690.hdr.sgml : 20240125 20240125165924 ACCESSION NUMBER: 0001086364-24-003690 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Churchill Downs Inc CENTRAL INDEX KEY: 0000020212 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-RACING, INCLUDING TRACK OPERATION [7948] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 610156015 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30865 FILM NUMBER: 24562909 BUSINESS ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 BUSINESS PHONE: 15023941166 MAIL ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS Inc DATE OF NAME CHANGE: 20160105 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us1714841087_012524.txt us1714841087_012524.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 8) CHURCHILL DOWNS INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 171484108 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 171484108 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 5925556 (6) Shared voting power 0 (7) Sole dispositive power 6136637 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 6136637 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 8.2% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- CHURCHILL DOWNS INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 600 N. HURSTBOURNE PK