Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Allworth Financial LP

Allworth Financial LP grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 498.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,218 shares of the company's stock after buying an additional 6,011 shares during the period. Allworth Financial LP's holdings in Churchill Downs were worth $905,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CHDN. Blue Trust Inc. boosted its holdings in shares of Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the 3rd quarter valued at $27,000. Fortitude Family Office LLC raised its position in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ CHDN traded down $2.51 during trading hours on Friday, reaching $116.55. The company's stock had a trading volume of 591,980 shares, compared to its average volume of 544,381. The company's 50-day moving average is $127.31 and its two-hundred day moving average is $134.67. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock has a market cap of $8.57 billion, a PE ratio of 20.53, a PEG ratio of 2.96 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This is a positive change from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. 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. 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. JMP Securities reiterated a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus cut their price objective 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. Finally, Truist Financial restated a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

Churchill Downs Company Profile

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.