Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 294.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,598 shares of the company's stock after purchasing an additional 9,403 shares during the quarter. Quantinno Capital Management LP's holdings in Churchill Downs were worth $1,703,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in Churchill Downs in the 2nd quarter valued at $125,418,000. Westfield Capital Management Co. LP boosted its holdings in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Churchill Downs by 10,126.1% during the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock worth $27,338,000 after acquiring an additional 193,914 shares during the period. WCM Investment Management LLC purchased a new position in Churchill Downs during the third quarter worth about $15,231,000. Finally, Point72 Asset Management L.P. lifted its position in Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock valued at $34,944,000 after purchasing an additional 100,230 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

CHDN stock traded down $1.17 during trading on Thursday, hitting $137.46. The stock had a trading volume of 301,331 shares, compared to its average volume of 430,642. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95. 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 company's 50 day moving average price is $140.06 and its two-hundred day moving average price is $138.43. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal 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 issued a dividend of $0.409 per share. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is 7.29%.

Analyst Ratings Changes

Several research firms have issued reports on CHDN. Mizuho dropped their target price on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 22nd. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. JMP Securities reissued a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Finally, Truist Financial reaffirmed a "buy" rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and an average target price of $160.88.

About Churchill Downs

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.