LPL Financial LLC Has $5.39 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

LPL Financial LLC increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 107.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,356 shares of the company's stock after buying an additional 20,938 shares during the quarter. LPL Financial LLC owned 0.05% of Churchill Downs worth $5,389,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHDN. Mizuho dropped their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus lowered their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company cut their price target on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Barclays began coverage on shares of Churchill Downs in a research note on Friday. They issued an "overweight" rating and a $125.00 target price for the company. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $153.44.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded up $0.10 during trading on Friday, reaching $102.51. 586,981 shares of the stock were exchanged, compared to its average volume of 505,200. The firm has a market cap of $7.53 billion, a PE ratio of 18.05, a PEG ratio of 2.95 and a beta of 0.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 12 month low of $96.67 and a 12 month high of $150.21. The stock has a 50-day moving average price of $112.92 and a 200-day moving average price of $127.51.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued 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 firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.23%. Churchill Downs's payout ratio is 7.04%.

Churchill Downs declared that its board has approved a share buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

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.