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

Atlanta Consulting Group Advisors LLC lowered its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,914 shares of the company's stock after selling 4,201 shares during the period. Churchill Downs accounts for 2.3% of Atlanta Consulting Group Advisors LLC's holdings, making the stock its 9th biggest position. Atlanta Consulting Group Advisors LLC owned 0.06% of Churchill Downs worth $6,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHDN. Atria Investments Inc raised its holdings in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company's stock worth $812,000 after buying an additional 224 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Churchill Downs by 44.6% during the third quarter. Victory Capital Management Inc. now owns 218,191 shares of the company's stock worth $29,502,000 after purchasing an additional 67,296 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Churchill Downs by 24.0% during the third quarter. Empowered Funds LLC now owns 9,355 shares of the company's stock worth $1,265,000 after purchasing an additional 1,810 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Churchill Downs by 11.7% during the third quarter. Natixis Advisors LLC now owns 120,887 shares of the company's stock worth $16,345,000 after purchasing an additional 12,614 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Churchill Downs by 3.6% during the third quarter. Mutual of America Capital Management LLC now owns 39,677 shares of the company's stock worth $5,365,000 after purchasing an additional 1,379 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently issued reports on CHDN shares. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday. Mizuho reduced their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, JMP Securities reissued a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

Churchill Downs Stock Performance

CHDN stock traded down $0.96 during midday trading on Thursday, hitting $112.01. 512,262 shares of the stock traded hands, compared to its average volume of 469,425. The firm has a market cap of $8.24 billion, a P/E ratio of 19.72, a PEG ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock's fifty day simple moving average is $119.82 and its 200-day simple moving average is $131.55. Churchill Downs Incorporated has a 1-year low of $105.18 and a 1-year high of $150.21.

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

Churchill Downs announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Churchill Downs Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.21%. Churchill Downs's dividend payout ratio (DPR) is 7.04%.

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.