Point72 DIFC Ltd Sells 11,293 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Point72 DIFC Ltd reduced its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 77.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,339 shares of the company's stock after selling 11,293 shares during the period. Point72 DIFC Ltd's holdings in Churchill Downs were worth $451,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Kimelman & Baird LLC purchased a new position in Churchill Downs during the 2nd quarter worth $42,000. CWM LLC increased its position in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company's stock valued at $61,000 after acquiring an additional 118 shares during the period. UMB Bank n.a. raised its stake in Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after acquiring an additional 255 shares during the last quarter. GAMMA Investing LLC raised its stake in Churchill Downs by 72.4% during the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company's stock valued at $85,000 after acquiring an additional 257 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in 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 acquiring an additional 90 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CHDN shares. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and increased their price target for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $160.88.

Churchill Downs Price Performance

Churchill Downs stock traded down $1.78 during mid-day trading on Friday, reaching $139.18. The company had a trading volume of 257,558 shares, compared to its average volume of 396,515. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a market capitalization of $10.23 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.94 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock's 50-day simple moving average is $139.89 and its 200-day simple moving average is $138.34.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for 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 firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, equities analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. 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. This represents a dividend yield of 0.29%. Churchill Downs's dividend payout ratio is presently 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.