Dynamic Technology Lab Private Ltd Raises Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Dynamic Technology Lab Private Ltd boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 126.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,670 shares of the company's stock after acquiring an additional 2,604 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Churchill Downs were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHDN. Louisiana State Employees Retirement System grew its position in shares of Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System grew its holdings in Churchill Downs by 0.6% during the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock valued at $2,559,000 after buying an additional 116 shares in the last quarter. CIBC Asset Management Inc increased its stake in Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock worth $301,000 after acquiring an additional 120 shares during the last quarter. Finally, Cetera Trust Company N.A raised its holdings in shares of Churchill Downs by 7.7% during the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company's stock worth $251,000 after acquiring an additional 135 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Trading Up 0.1 %

Shares of NASDAQ CHDN traded up $0.10 during midday trading on Friday, hitting $102.51. The company's stock had a trading volume of 586,981 shares, compared to its average volume of 505,200. Churchill Downs Incorporated has a 12-month low of $96.67 and a 12-month high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a market cap of $7.53 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The business's 50 day moving average is $112.92 and its two-hundred day moving average is $127.51.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its 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). The business had revenue of $624.20 million during the quarter, compared to analysts' expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, equities research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its board has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Churchill Downs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs's payout ratio is 7.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JMP Securities restated a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. 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 report on Thursday. Mizuho lowered their price target on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. StockNews.com cut Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $153.44.

About Churchill Downs

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.