JPMorgan Chase & Co. Buys 29,069 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

JPMorgan Chase & Co. lifted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,663 shares of the company's stock after purchasing an additional 29,069 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Churchill Downs worth $28,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Churchill Downs by 21.3% during the 3rd quarter. HighTower Advisors LLC now owns 11,687 shares of the company's stock worth $1,579,000 after buying an additional 2,055 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Churchill Downs by 294.3% during the third quarter. Quantinno Capital Management LP now owns 12,598 shares of the company's stock worth $1,703,000 after purchasing an additional 9,403 shares during the period. State Street Corp lifted its position in Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after buying an additional 114,018 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Churchill Downs by 3.1% during the 3rd quarter. XTX Topco Ltd now owns 6,564 shares of the company's stock valued at $888,000 after buying an additional 195 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Churchill Downs by 8.7% during the 3rd quarter. MML Investors Services LLC now owns 27,510 shares of the company's stock valued at $3,720,000 after acquiring an additional 2,198 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

CHDN traded up $0.10 during midday trading on Friday, reaching $102.51. The company's stock had a trading volume of 586,981 shares, compared to its average volume of 505,200. 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 company has a fifty day simple moving average of $112.92 and a 200 day simple moving average of $127.51. The stock has a market cap of $7.53 billion, a P/E ratio of 18.05, a PEG ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a twelve month low of $96.67 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs's payout ratio is 7.04%.

Churchill Downs announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of recent research reports. Barclays began coverage on Churchill Downs in a research note on Friday. They issued an "overweight" rating and a $125.00 target price on the stock. JMP Securities reissued a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday, April 8th. Finally, Stifel Nicolaus reduced 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 note on Thursday. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $153.44.

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.