Holocene Advisors LP Takes Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Holocene Advisors LP bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,111 shares of the company's stock, valued at approximately $2,043,000.

A number of other institutional investors have also recently made changes to their positions in the business. Winslow Asset Management Inc. increased its position in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock valued at $443,000 after acquiring an additional 90 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock worth $104,000 after purchasing an additional 90 shares during the period. Commerce Bank grew its holdings in Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company's stock valued at $686,000 after purchasing an additional 90 shares during the last quarter. First Horizon Advisors Inc. raised its position in Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company's stock worth $114,000 after purchasing an additional 99 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock worth $986,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Down 1.3 %

NASDAQ:CHDN traded down $1.78 during mid-day trading on Friday, reaching $139.18. The company's stock had a trading volume of 257,558 shares, compared to its average volume of 396,515. 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 stock has a fifty day moving average of $139.89 and a 200-day moving average of $138.36. The firm has a market capitalization of $10.23 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.94 and a beta of 0.95.

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

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on CHDN. Bank of America raised Churchill Downs from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Truist Financial reaffirmed a "buy" rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.88.

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.