Natixis Advisors LLC Buys 12,614 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Natixis Advisors LLC lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,887 shares of the company's stock after purchasing an additional 12,614 shares during the period. Natixis Advisors LLC owned 0.16% of Churchill Downs worth $16,345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHDN. William Blair Investment Management LLC acquired a new stake in Churchill Downs in the second quarter valued at $125,418,000. Assenagon Asset Management S.A. lifted its position 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 acquiring an additional 193,914 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Churchill Downs during the 2nd quarter valued at approximately $26,384,000. Capital International Investors raised its position 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 worth $316,881,000 after purchasing an additional 177,900 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position 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 worth $48,452,000 after purchasing an additional 130,331 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of research reports. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Mizuho cut their target price 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. Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Truist Financial restated a "buy" rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. 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, Churchill Downs presently has an average rating of "Moderate Buy" and an average target price of $160.88.

Churchill Downs Price Performance

Shares of NASDAQ CHDN traded up $0.37 during trading on Wednesday, reaching $139.11. The company had a trading volume of 105,633 shares, compared to its average volume of 436,190. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. The business's 50 day moving average price is $138.98 and its 200-day moving average price is $137.92. 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 market cap of $10.22 billion, a PE ratio of 25.27, a PEG ratio of 3.85 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, beating analysts' consensus estimates 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 business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share. Analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's payout ratio is currently 7.29%.

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.