Cardinal Strategic Wealth Guidance Trims Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Cardinal Strategic Wealth Guidance trimmed its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 66.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,675 shares of the company's stock after selling 5,320 shares during the quarter. Cardinal Strategic Wealth Guidance's holdings in Churchill Downs were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in Churchill Downs during the 3rd quarter worth approximately $516,000. Westfield Capital Management Co. LP grew its holdings in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock worth $103,241,000 after acquiring an additional 381,754 shares during the period. Atria Investments Inc raised its position in Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company's stock worth $812,000 after acquiring an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company's stock valued at $80,477,000 after acquiring an additional 37,679 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock worth $24,824,000 after purchasing an additional 12,226 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of CHDN traded down $1.17 during mid-day trading on Friday, reaching $121.93. 274,729 shares of the company's stock were exchanged, compared to its average volume of 494,387. The company has a quick ratio of 0.55, a current 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. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.05 and a beta of 0.95. The company has a 50-day simple moving average of $129.06 and a two-hundred day simple moving average of $135.39.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.409 dividend. This represents a dividend 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 was Friday, December 6th. Churchill Downs's payout ratio is 7.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. JMP Securities reiterated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Truist Financial restated a "buy" rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Finally, Wells Fargo & Company dropped their price objective on Churchill Downs from $168.00 to $165.00 and set an "overweight" rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.50.

Churchill Downs 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.