Churchill Downs (NASDAQ:CHDN) Shares Acquired Rep. James Comer

Representative James Comer (R-Kentucky) recently bought shares of Churchill Downs Incorporated NASDAQ: CHDN. In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Churchill Downs stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Arista Networks NYSE: ANET on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Dover NYSE: DOV on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of PayPal NASDAQ: PYPL on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Uber Technologies NYSE: UBER on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Amphenol NYSE: APH on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Apple NASDAQ: AAPL on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 1/2/2025.

Churchill Downs Stock Performance

Shares of CHDN traded down $2.06 during mid-day trading on Wednesday, hitting $126.89. 440,067 shares of the company's stock were exchanged, compared to its average volume of 411,085. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The business's 50 day moving average is $136.74 and its two-hundred day moving average is $137.82. The firm has a market capitalization of $9.33 billion, a P/E ratio of 23.11, a P/E/G ratio of 3.84 and a beta of 0.96.

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, topping analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. On average, equities analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.409 dividend. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs's dividend payout ratio is presently 7.29%.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Truist Financial reaffirmed a "buy" rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Mizuho lowered their price objective on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. Finally, JMP Securities reissued a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $160.88.

Institutional Investors Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC raised its stake 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 buying an additional 246 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth $42,000. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs in the 4th quarter worth about $55,000. Finally, UMB Bank n.a. grew its stake in Churchill Downs by 82.8% in 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. 82.59% of the stock is currently owned by institutional investors and hedge funds.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky's 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky's 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer "instrumental in the final passage of a five-year farm bill," noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

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.