GSA Capital Partners LLP Sells 12,174 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

GSA Capital Partners LLP lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 53.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,659 shares of the company's stock after selling 12,174 shares during the quarter. GSA Capital Partners LLP's holdings in Churchill Downs were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. William Blair Investment Management LLC bought a new stake in Churchill Downs in the 2nd quarter worth about $125,418,000. Assenagon Asset Management S.A. grew its stake in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock valued at $27,338,000 after purchasing an additional 193,914 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Churchill Downs during the 2nd quarter valued at about $26,384,000. Capital International Investors grew its stake in shares of Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock valued at $316,881,000 after acquiring an additional 177,900 shares during the period. Finally, Artemis Investment Management LLP grew its stake in shares of Churchill Downs by 60.1% during the 2nd quarter. Artemis Investment Management LLP now owns 347,074 shares of the company's stock valued at $48,452,000 after acquiring an additional 130,331 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Mizuho cut their price objective on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. JMP Securities reiterated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, Macquarie boosted their price objective on Churchill Downs from $154.00 to $162.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus target price of $160.88.

Churchill Downs Price Performance

NASDAQ CHDN traded down $0.42 during trading hours on Thursday, reaching $141.12. The company's stock had a trading volume of 142,890 shares, compared to its average volume of 436,333. The firm's 50-day moving average price is $138.94 and its 200-day moving average price is $137.64. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.91 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs's dividend payout ratio is 6.92%.

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.