Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 295,311 shares of the company's stock after buying an additional 15,821 shares during the quarter. Envestnet Asset Management Inc. owned 0.40% of Churchill Downs worth $39,436,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp lifted its stake in Churchill Downs by 22.1% in the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company's stock worth $3,958,000 after acquiring an additional 5,372 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock valued at $80,839,000 after purchasing an additional 10,153 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Churchill Downs during the fourth quarter worth approximately $1,927,000. JPMorgan Chase & Co. raised its holdings in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock valued at $24,824,000 after buying an additional 12,226 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Churchill Downs by 4.7% during the fourth quarter. Victory Capital Management Inc. now owns 228,550 shares of the company's stock worth $30,521,000 after buying an additional 10,359 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus cut their price objective 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. JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Barclays began coverage on shares of Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target for the company. Finally, StockNews.com cut shares of Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.44.

Churchill Downs Price Performance

Churchill Downs stock traded up $1.21 during mid-day trading on Thursday, hitting $102.20. 127,888 shares of the company were exchanged, compared to its average volume of 504,236. Churchill Downs Incorporated has a 12-month low of $96.67 and a 12-month high of $150.21. The company has a market capitalization of $7.51 billion, a P/E ratio of 17.96, a PEG ratio of 2.95 and a beta of 0.86. The business's 50 day simple moving average is $111.70 and its two-hundred day simple moving average is $126.93. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its board has initiated a stock buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Churchill Downs Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs's payout ratio is 7.04%.

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.