2,357 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Purchased by Centerline Wealth Advisors LLC

Centerline Wealth Advisors LLC purchased a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,357 shares of the company's stock, valued at approximately $314,000. Churchill Downs accounts for approximately 0.2% of Centerline Wealth Advisors LLC's investment portfolio, making the stock its 28th biggest holding.

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

Wall Street Analyst Weigh In

CHDN has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho lowered their price target 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. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Truist Financial reissued 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 lowered their price target on shares of Churchill Downs from $168.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Churchill Downs currently has an average rating of "Moderate Buy" and a consensus target price of $160.50.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN traded down $0.94 on Tuesday, hitting $121.49. The stock had a trading volume of 277,056 shares, compared to its average volume of 488,069. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. 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 firm's 50 day moving average price is $130.21 and its 200-day moving average price is $135.72. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. This is an increase from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's payout ratio is currently 7.47%.

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.