Gamco Investors INC. ET AL trimmed its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,028 shares of the company's stock after selling 3,642 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.32% of Churchill Downs worth $31,519,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Churchill Downs in the 4th quarter valued at about $74,967,000. Boston Partners raised its position in Churchill Downs by 25.6% in the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after purchasing an additional 366,283 shares during the last quarter. FMR LLC lifted its holdings in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after buying an additional 214,694 shares in the last quarter. Clearbridge Investments LLC bought a new position in Churchill Downs in the 4th quarter valued at $28,369,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Churchill Downs in the 4th quarter valued at $16,015,000. Institutional investors own 82.59% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on CHDN. Mizuho decreased their price target 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 price target on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. StockNews.com lowered shares of Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.44.
Get Our Latest Research Report on Churchill Downs
Churchill Downs Trading Up 0.4 %
CHDN stock traded up $0.37 during midday trading on Friday, hitting $101.36. 617,923 shares of the company's stock were exchanged, compared to its average volume of 506,716. Churchill Downs Incorporated has a one year low of $96.67 and a one year high of $150.21. The stock's fifty day moving average price is $110.87 and its 200-day moving average price is $126.39. The company has a market cap of $7.45 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results 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). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.
Churchill Downs Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. Churchill Downs's dividend payout ratio is currently 7.04%.
Churchill Downs announced that its board has initiated a stock buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
About Churchill Downs
(
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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