New Age Alpha Advisors LLC acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,410 shares of the company's stock, valued at approximately $990,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs in the fourth quarter worth $55,000. Finally, R Squared Ltd acquired a new position in Churchill Downs in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 82.59% of the company's stock.
Analyst Ratings Changes
CHDN has been the topic of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Mizuho decreased their price objective 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. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $159.38.
View Our Latest Research Report on Churchill Downs
Churchill Downs Price Performance
CHDN stock traded down $6.36 during midday trading on Friday, reaching $102.66. 984,270 shares of the stock were exchanged, compared to its average volume of 497,417. Churchill Downs Incorporated has a 52 week low of $101.62 and a 52 week high of $150.21. The company has a fifty day moving average price of $116.11 and a 200 day moving average price of $129.19. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market capitalization of $7.54 billion, a PE ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.
Churchill Downs declared that its Board of Directors has approved a stock buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
Churchill Downs Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Churchill Downs's payout ratio is currently 7.04%.
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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