Aptus Capital Advisors LLC Invests $4.83 Million in Churchill Downs Incorporated (NASDAQ:CHDN)

Aptus Capital Advisors LLC bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,740 shares of the company's stock, valued at approximately $4,832,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP bought a new position in shares of Churchill Downs in the 3rd quarter valued at approximately $516,000. Winslow Asset Management Inc. boosted its stake in Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock valued at $443,000 after buying an additional 90 shares in the last quarter. WCM Investment Management LLC acquired a new position in Churchill Downs during the 3rd quarter worth about $15,231,000. Versor Investments LP acquired a new stake in Churchill Downs in the third quarter worth $473,000. Finally, Venturi Wealth Management LLC grew its position in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock valued at $104,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Up 0.2 %

Shares of CHDN traded up $0.26 during trading hours on Wednesday, hitting $141.54. The company had a trading volume of 610,639 shares, compared to its average volume of 437,667. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The stock's 50 day moving average price is $138.94 and its 200 day moving average price is $137.64. The firm has a market cap of $10.40 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.91 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same quarter in the prior year, the company earned $0.87 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. This is a boost from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio (DPR) is currently 6.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHDN shares. Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and increased their target price for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Truist Financial reaffirmed a "buy" rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reissued a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Finally, Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $160.88.

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.