Renaissance Technologies LLC Purchases 11,400 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Renaissance Technologies LLC raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,950 shares of the company's stock after purchasing an additional 11,400 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Churchill Downs worth $11,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CHDN. Blue Trust Inc. raised its holdings in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the 3rd quarter worth about $27,000. Fortitude Family Office LLC grew its position 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 valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Churchill Downs during the fourth quarter worth about $55,000. Finally, R Squared Ltd bought a new position in Churchill Downs in the fourth quarter valued at $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Up 0.4 %

Shares of NASDAQ CHDN traded up $0.37 during trading hours on Friday, hitting $101.36. 617,923 shares of the company traded hands, compared to its average volume of 506,303. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 12 month low of $96.67 and a 12 month high of $150.21. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company's 50 day moving average price is $110.87 and its 200 day moving average price is $126.46.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued 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). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to analysts' expectations of $620.21 million. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.

Churchill Downs declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CHDN shares. Barclays assumed coverage on Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus cut their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.44.

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.