Silvant Capital Management LLC lifted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 34.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,345 shares of the company's stock after buying an additional 4,905 shares during the period. Silvant Capital Management LLC's holdings in Churchill Downs were worth $2,616,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CHDN. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs during the 2nd quarter worth about $125,418,000. Assenagon Asset Management S.A. raised its stake in shares of Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock valued at $27,338,000 after acquiring an additional 193,914 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Churchill Downs during the 2nd quarter valued at $26,384,000. Capital International Investors increased its holdings in Churchill Downs by 7.5% in the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock valued at $316,881,000 after purchasing an additional 177,900 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in Churchill Downs by 60.1% in the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company's stock valued at $48,452,000 after purchasing an additional 130,331 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CHDN. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. StockNews.com lowered shares of Churchill Downs from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Bank of America upgraded shares of 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. Mizuho dropped their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd. Finally, Truist Financial restated a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.
View Our Latest Stock Report on CHDN
Churchill Downs Stock Performance
Shares of NASDAQ CHDN traded down $1.62 during trading on Friday, reaching $138.48. The stock had a trading volume of 506,955 shares, compared to its average volume of 434,102. The firm's 50 day moving average price is $138.25 and its two-hundred day moving average price is $136.49. Churchill Downs Incorporated has a one year low of $108.00 and a one year high of $146.64. The stock has a market cap of $10.18 billion, a PE ratio of 25.22, a P/E/G ratio of 3.99 and a beta of 0.97. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to analysts' expectations of $627.90 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal 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 paid a $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. Churchill Downs's payout ratio is presently 6.92%.
About Churchill Downs
(
Free Report)
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.
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