Quantbot Technologies LP acquired a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,648 shares of the company's stock, valued at approximately $1,305,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in Churchill Downs during the second quarter valued at $42,000. CWM LLC boosted its holdings in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. grew its position in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after purchasing an additional 255 shares in the last quarter. Bank & Trust Co acquired a new position in Churchill Downs in the 2nd quarter valued at approximately $84,000. Finally, GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 257 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Churchill Downs Price Performance
The company has a market cap of $10.44 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 3.94 and a beta of 0.96. The firm's fifty day simple moving average is $139.18 and its 200 day simple moving average is $138.14. 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 Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. During the same period in the prior year, the business earned $0.87 earnings per share. Churchill Downs's revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current year.
Churchill Downs Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. This is an increase from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs's payout ratio is presently 7.29%.
Wall Street Analyst Weigh In
CHDN has been the subject of a number of research reports. Truist Financial reissued a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. 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 raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and increased their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Mizuho decreased their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus price target of $160.88.
Read Our Latest Stock Analysis on Churchill Downs
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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