Bridgewater Associates LP bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,844 shares of the company's stock, valued at approximately $1,331,000.
Several other institutional investors have also recently made changes to their positions in the company. Soros Capital Management LLC lifted its position in shares of Churchill Downs by 23.7% during the third quarter. Soros Capital Management LLC now owns 4,619 shares of the company's stock worth $625,000 after purchasing an additional 884 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Churchill Downs by 298.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,665 shares of the company's stock worth $2,524,000 after buying an additional 13,985 shares during the period. Quantbot Technologies LP purchased a new position in Churchill Downs in the 3rd quarter worth about $1,305,000. The Manufacturers Life Insurance Company lifted its holdings in Churchill Downs by 5.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 61,169 shares of the company's stock valued at $8,271,000 after buying an additional 2,939 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Churchill Downs in the 3rd quarter valued at about $263,000. Institutional investors own 82.59% of the company's stock.
Churchill Downs Stock Performance
NASDAQ CHDN traded up $0.67 during mid-day trading on Monday, reaching $142.78. 372,672 shares of the stock were exchanged, compared to its average volume of 434,295. The company has a market capitalization of $10.49 billion, a P/E ratio of 25.89, a P/E/G ratio of 3.94 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The business's 50 day moving average is $139.18 and its 200-day moving average is $138.17. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Churchill Downs's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.
Churchill Downs Increases Dividend
The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a $0.409 dividend. This is a positive change from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is 7.29%.
Analyst Upgrades and Downgrades
CHDN has been the topic of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Bank of America raised Churchill Downs from a "neutral" rating to a "buy" rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Truist Financial restated a "buy" rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Finally, Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. One 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.88.
Read Our Latest Stock Analysis on Churchill Downs
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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