Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 9,113.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,173 shares of the company's stock after buying an additional 6,106 shares during the period. Bessemer Group Inc.'s holdings in Churchill Downs were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted 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 worth $25,000 after acquiring an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC boosted its position in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN traded up $0.37 during trading hours on Friday, reaching $101.36. The stock had a trading volume of 617,923 shares, compared to its average volume of 506,716. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week high of $150.21. The firm has a 50-day moving average of $110.87 and a 200-day moving average of $126.32. 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 (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Equities research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

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

Churchill Downs Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Churchill Downs's payout ratio is 7.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHDN. Mizuho lowered their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Barclays assumed coverage on shares of Churchill Downs in a research note on Friday, April 11th. They issued an "overweight" rating and a $125.00 price target for the company. Wells Fargo & Company decreased their target price on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $153.44.

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.