Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 100.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 763,561 shares of the company's stock after purchasing an additional 381,754 shares during the quarter. Westfield Capital Management Co. LP owned about 1.04% of Churchill Downs worth $103,241,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. increased its position in Churchill Downs by 259.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company's stock valued at $2,772,000 after acquiring an additional 14,331 shares during the period. Aigen Investment Management LP acquired a new position in shares of Churchill Downs in the third quarter valued at approximately $516,000. Assenagon Asset Management S.A. raised 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 worth $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock worth $34,944,000 after purchasing an additional 100,230 shares during the period. Finally, Boston Partners grew its position in Churchill Downs by 4.4% in the 1st quarter. Boston Partners now owns 846,151 shares of the company's stock valued at $104,723,000 after buying an additional 35,587 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of CHDN traded down $0.51 on Friday, reaching $141.87. The stock had a trading volume of 299,219 shares, compared to its average volume of 515,459. The firm has a 50-day moving average of $139.05 and a 200 day moving average of $137.99. The firm has a market capitalization of $10.43 billion, a PE ratio of 25.84, a PEG ratio of 3.94 and a beta of 0.96. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Sell-side analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs's dividend payout ratio (DPR) is 7.29%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CHDN shares. Mizuho reduced their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. JMP Securities restated a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price target on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, Truist Financial restated a "buy" rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.

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.