Churchill Downs Stock Drops 10.7%

Is it Time to Sell Shares in the Kentucky Derby Owner?

Published on Feb. 26, 2026

Got story updates? Submit your updates here. ›

Churchill Downs, Inc. (NASDAQ:CHDN), the company that owns the famous Kentucky Derby racetrack, saw its stock price fall 10.7% on Thursday. The stock traded as low as $86.85 before closing at $85.89, with over 965,000 shares changing hands - a 16% increase from the average trading volume.

Why it matters

As one of the most iconic horse racing and entertainment companies in the U.S., a significant drop in Churchill Downs' stock price could signal broader challenges facing the company and the industry. Investors will be watching closely to see if this is a temporary dip or the start of a longer-term downward trend.

The details

The stock price decline came despite a number of positive analyst reports on Churchill Downs in recent months. Citigroup reiterated an 'outperform' rating, Wells Fargo raised its price target, and Jefferies Financial Group reissued a 'buy' rating. However, the company's debt-to-equity ratio of 4.87 may be concerning some investors.

  • Churchill Downs' stock price traded down 10.7% on Thursday, February 26, 2026.

The players

Churchill Downs, Incorporated

A leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. The company manages a diversified portfolio of live racing facilities, casinos, and online betting platforms.

Citigroup

A global investment bank that has reiterated an 'outperform' rating on Churchill Downs' shares.

Wells Fargo & Company

A major financial services company that has reaffirmed an 'overweight' rating and increased its price target for Churchill Downs' stock.

Jefferies Financial Group

An investment banking firm that has reissued a 'buy' rating on Churchill Downs' shares.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.