Atlanta Consulting Group Advisors LLC Purchases 4,201 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Atlanta Consulting Group Advisors LLC raised its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,115 shares of the company's stock after purchasing an additional 4,201 shares during the period. Churchill Downs accounts for approximately 1.7% of Atlanta Consulting Group Advisors LLC's holdings, making the stock its 9th biggest position. Atlanta Consulting Group Advisors LLC owned approximately 0.07% of Churchill Downs worth $6,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHDN. William Blair Investment Management LLC bought a new position in Churchill Downs in the 2nd quarter valued at about $125,418,000. Assenagon Asset Management S.A. increased its stake in shares of Churchill Downs by 10,126.1% during the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock valued at $27,338,000 after acquiring an additional 193,914 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Churchill Downs during the second quarter worth approximately $26,384,000. Capital International Investors boosted its stake in Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock valued at $316,881,000 after purchasing an additional 177,900 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of Churchill Downs by 60.1% in the 2nd quarter. Artemis Investment Management LLP now owns 347,074 shares of the company's stock worth $48,452,000 after buying an additional 130,331 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHDN. Truist Financial reiterated a "buy" rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Finally, Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the company an "outperform" rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Churchill Downs presently has a consensus rating of "Moderate Buy" and an average price target of $160.88.

Churchill Downs Stock Down 1.4 %

CHDN traded down $2.00 on Friday, reaching $138.91. 468,305 shares of the company traded hands, compared to its average volume of 550,142. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 3.85 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock's 50 day moving average price is $139.03 and its 200-day moving average price is $137.79. 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. On average, sell-side analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs's dividend payout ratio is currently 6.92%.

Churchill Downs Company 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.