Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,660,000 shares, a growth of 23.0% from the February 13th total of 1,350,000 shares. Based on an average trading volume of 536,200 shares, the short-interest ratio is currently 3.1 days. Currently, 2.4% of the shares of the stock are short sold.

Churchill Downs Trading Up 0.1 %

CHDN traded up $0.09 on Friday, reaching $112.10. 925,264 shares of the company traded hands, compared to its average volume of 471,462. Churchill Downs has a one year low of $105.18 and a one year high of $150.21. The firm has a fifty day simple moving average of $119.19 and a two-hundred day simple moving average of $131.19. The company has a market cap of $8.24 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data 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 43.67%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. As a group, equities research analysts expect that Churchill Downs will post 6.92 earnings per share for the current year.

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Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Churchill Downs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Churchill Downs's payout ratio is 7.04%.

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs during the 3rd quarter valued at about $27,000. Fortitude Family Office LLC increased its position in 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 purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the 4th quarter valued at about $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs during the 4th quarter valued at about $55,000. Institutional investors own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

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

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.