Point72 Asset Management L.P. trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,854 shares of the company's stock after selling 32,465 shares during the quarter. Point72 Asset Management L.P. owned 0.30% of Churchill Downs worth $29,456,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in CHDN. GAMMA Investing LLC increased its position in Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company's stock worth $85,000 after acquiring an additional 257 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Churchill Downs by 24.1% during the second quarter. Park Avenue Securities LLC now owns 10,418 shares of the company's stock worth $1,454,000 after purchasing an additional 2,024 shares during the period. CWM LLC raised its position in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company's stock valued at $61,000 after buying an additional 118 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Churchill Downs in the second quarter valued at approximately $1,000,000. Finally, Artemis Investment Management LLP grew its position in Churchill Downs by 60.1% during the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company's stock worth $48,452,000 after buying an additional 130,331 shares in the last quarter. Institutional investors own 82.59% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on CHDN. Truist Financial reaffirmed a "buy" rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Bank of America upgraded shares of Churchill Downs from a "neutral" rating to a "buy" rating and raised their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Mizuho lowered their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.88.
View Our Latest Report on CHDN
Churchill Downs Trading Down 1.3 %
Shares of CHDN stock traded down $1.78 on Friday, hitting $139.18. The company had a trading volume of 257,558 shares, compared to its average volume of 432,304. The stock's 50-day moving average is $139.79 and its two-hundred day moving average is $138.32. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $10.23 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.88 and a beta of 0.95. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.
Churchill Downs Increases Dividend
The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. This is a positive change from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs's payout ratio is presently 7.29%.
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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