BNP Paribas Financial Markets increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 298.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,665 shares of the company's stock after buying an additional 13,985 shares during the quarter. BNP Paribas Financial Markets' holdings in Churchill Downs were worth $2,524,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the second quarter valued at $42,000. CWM LLC raised its position in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. lifted its stake in Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after buying an additional 255 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company's stock valued at $85,000 after purchasing an additional 257 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in 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 acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. JMP Securities reiterated a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Bank of America upgraded shares of Churchill Downs from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of "Moderate Buy" and an average target price of $160.88.
Get Our Latest Research Report on Churchill Downs
Churchill Downs Price Performance
Churchill Downs stock traded down $1.78 during midday trading on Friday, reaching $139.18. The company's stock had a trading volume of 257,558 shares, compared to its average volume of 396,515. The stock has a market cap of $10.23 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.94 and a beta of 0.95. The business has a 50-day moving average price of $139.89 and a 200-day moving average price of $138.34. The company has a current ratio of 0.55, a quick 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.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. On average, sell-side analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.
Churchill Downs Increases Dividend
The company 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 dividend of $0.409 per share. This represents a yield of 0.29%. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs's dividend payout ratio (DPR) is 6.92%.
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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