Barclays PLC Has $8.48 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Barclays PLC increased its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 114.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,532 shares of the company's stock after purchasing an additional 33,948 shares during the quarter. Barclays PLC owned approximately 0.09% of Churchill Downs worth $8,483,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its stake in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs during the 4th quarter valued at $55,000. Finally, R Squared Ltd bought a new position in Churchill Downs during the fourth quarter worth $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Susquehanna decreased their target price on Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Truist Financial decreased their price objective on Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.80.

Churchill Downs Price Performance

CHDN stock traded up $0.67 during mid-day trading on Monday, hitting $89.02. The stock had a trading volume of 1,233,945 shares, compared to its average volume of 530,588. The firm has a fifty day simple moving average of $108.37 and a 200 day simple moving average of $124.86. Churchill Downs Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a market capitalization of $6.54 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. Churchill Downs's dividend payout ratio (DPR) is presently 7.12%.

Churchill Downs declared that its Board of Directors has approved a stock buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

About Churchill Downs

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.