Emerald Advisers LLC Cuts Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Emerald Advisers LLC cut its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,844 shares of the company's stock after selling 6,461 shares during the period. Emerald Advisers LLC owned 0.18% of Churchill Downs worth $17,556,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in shares of Churchill Downs by 127.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,202 shares of the company's stock worth $6,112,000 after acquiring an additional 25,345 shares in the last quarter. Silvant Capital Management LLC raised its holdings in shares of Churchill Downs by 34.0% during the 3rd quarter. Silvant Capital Management LLC now owns 19,345 shares of the company's stock worth $2,616,000 after acquiring an additional 4,905 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Churchill Downs by 6.7% during the 3rd quarter. New York State Teachers Retirement System now owns 58,971 shares of the company's stock worth $7,973,000 after acquiring an additional 3,727 shares in the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of Churchill Downs by 14.2% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 23,278 shares of the company's stock worth $3,147,000 after acquiring an additional 2,886 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $344,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHDN has been the topic of several recent research reports. Truist Financial reaffirmed a "buy" rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities restated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and increased their price target for the company from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their price target on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.

Churchill Downs Trading Down 1.2 %

CHDN stock traded down $1.62 during midday trading on Friday, reaching $138.48. The company's stock had a trading volume of 506,955 shares, compared to its average volume of 474,227. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day simple moving average of $138.25 and a two-hundred day simple moving average of $136.57. Churchill Downs Incorporated has a 1 year low of $108.00 and a 1 year high of $146.64. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 3.88 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released 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 return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

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

Churchill Downs 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.