Congress Asset Management Co. trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 24.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,930 shares of the company's stock after selling 2,191 shares during the period. Congress Asset Management Co.'s holdings in Churchill Downs were worth $925,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Aigen Investment Management LP acquired a new position in Churchill Downs in the third quarter worth about $516,000. Westfield Capital Management Co. LP grew its stake in Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Atria Investments Inc grew its stake in 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 purchasing an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company's stock worth $80,477,000 after acquiring an additional 37,679 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock worth $24,824,000 after acquiring an additional 12,226 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on CHDN shares. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday. JMP Securities reissued a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Mizuho cut their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Truist Financial reissued a "buy" rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus target price of $159.38.
View Our Latest Stock Analysis on CHDN
Churchill Downs Stock Performance
Shares of CHDN traded down $2.13 during mid-day trading on Friday, reaching $116.92. 1,199,253 shares of the company's stock traded hands, compared to its average volume of 563,063. The business's 50-day moving average price is $126.93 and its 200-day moving average price is $134.58. The stock has a market capitalization of $8.59 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month 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 earnings per share 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 44.76%. The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Equities analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs Increases Dividend
The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a dividend of $0.409 per share. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs's payout ratio is presently 7.04%.
Churchill Downs Profile
(
Free Report)
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.
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