Cerity Partners LLC Decreases Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Cerity Partners LLC decreased its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,515 shares of the company's stock after selling 14,272 shares during the quarter. Cerity Partners LLC owned approximately 0.11% of Churchill Downs worth $10,370,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Churchill Downs in the 3rd quarter worth about $27,000. Fortitude Family Office LLC raised its position in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs in the 4th quarter valued at about $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs during the fourth quarter worth approximately $55,000. Institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of recent research reports. Mizuho dropped their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Barclays assumed coverage on shares of Churchill Downs in a research note on Friday, April 11th. They set an "overweight" rating and a $125.00 price target for the company. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.44.

Churchill Downs Stock Down 0.3 %

Shares of CHDN stock traded down $0.30 on Wednesday, hitting $102.33. The stock had a trading volume of 85,736 shares, compared to its average volume of 503,684. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The company has a market cap of $7.52 billion, a PE ratio of 18.02, a P/E/G ratio of 2.95 and a beta of 0.86. The business has a 50 day moving average price of $112.12 and a 200 day moving average price of $127.11. Churchill Downs Incorporated has a one year low of $96.67 and a one year high of $150.21.

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

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs's dividend payout ratio is presently 7.04%.

Churchill Downs declared that its board has initiated a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.