Assetmark Inc. decreased its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 99.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 288 shares of the company's stock after selling 40,148 shares during the period. Assetmark Inc.'s holdings in Churchill Downs were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in CHDN. William Blair Investment Management LLC acquired a new position in Churchill Downs in the second quarter valued at approximately $125,418,000. Assenagon Asset Management S.A. raised its holdings in shares of Churchill Downs by 10,126.1% during the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock valued at $27,338,000 after purchasing an additional 193,914 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Churchill Downs during the 2nd quarter worth about $26,384,000. Capital International Investors increased its position in Churchill Downs by 7.5% in the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock valued at $316,881,000 after buying an additional 177,900 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Churchill Downs by 60.1% in the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company's stock worth $48,452,000 after acquiring an additional 130,331 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on CHDN shares. Macquarie boosted their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Stifel Nicolaus upped their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.
View Our Latest Analysis on CHDN
Churchill Downs Stock Performance
Shares of Churchill Downs stock traded up $0.48 during trading hours on Tuesday, hitting $139.33. 145,410 shares of the company's stock traded hands, compared to its average volume of 436,786. The company has a fifty day simple moving average of $139.01 and a 200-day simple moving average of $137.88. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.85 and a beta of 0.96. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.
Churchill Downs Increases Dividend
The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. Churchill Downs's dividend payout ratio (DPR) is currently 7.29%.
About Churchill Downs
(
Free Report)
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.
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