GW&K Investment Management LLC Increases Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

GW&K Investment Management LLC boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 434,188 shares of the company's stock after acquiring an additional 81,013 shares during the period. GW&K Investment Management LLC owned about 0.59% of Churchill Downs worth $57,982,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CHDN. Blue Trust Inc. raised its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs during the third quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its position in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Churchill Downs in the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd acquired a new stake in shares of Churchill Downs in the fourth quarter worth approximately $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHDN has been the topic of several recent research reports. Mizuho lowered their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock 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, November 6th. 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. Wells Fargo & Company cut their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus reduced their target price on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

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Churchill Downs Stock Down 2.1 %

CHDN stock traded down $2.45 during midday trading on Tuesday, hitting $112.71. The company's stock had a trading volume of 340,020 shares, compared to its average volume of 468,859. The firm has a 50-day simple moving average of $124.96 and a 200-day simple moving average of $133.77. The firm has a market capitalization of $8.29 billion, a P/E ratio of 19.84, a PEG ratio of 2.95 and a beta of 0.95. 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 Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

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 (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $620.21 million. As a group, equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs's previous annual dividend of $0.38. 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.