Proficio Capital Partners LLC Takes $1.93 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Proficio Capital Partners LLC bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,433 shares of the company's stock, valued at approximately $1,927,000.

Several other large investors have also recently made changes to their positions in CHDN. Empowered Funds LLC lifted its holdings in shares of Churchill Downs by 24.0% during the third quarter. Empowered Funds LLC now owns 9,355 shares of the company's stock valued at $1,265,000 after purchasing an additional 1,810 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Churchill Downs by 11.7% during the third quarter. Natixis Advisors LLC now owns 120,887 shares of the company's stock valued at $16,345,000 after purchasing an additional 12,614 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Churchill Downs by 3.6% during the third quarter. Mutual of America Capital Management LLC now owns 39,677 shares of the company's stock valued at $5,365,000 after purchasing an additional 1,379 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Churchill Downs by 6.7% during the third quarter. Thrivent Financial for Lutherans now owns 17,248 shares of the company's stock valued at $2,332,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Churchill Downs during the third quarter valued at approximately $832,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

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Churchill Downs Stock Performance

NASDAQ:CHDN traded up $0.09 during trading hours on Friday, reaching $112.10. The company had a trading volume of 925,264 shares, compared to its average volume of 471,462. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 52 week low of $105.18 and a 52 week high of $150.21. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.95 and a beta of 0.93. The firm's 50 day moving average price is $119.19 and its 200-day moving average price is $131.19.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. On average, analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Churchill Downs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Churchill Downs's payout ratio is 7.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CHDN. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. JMP Securities reissued a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.