Russell Investments Group Ltd. Has $4.39 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Russell Investments Group Ltd. lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,850 shares of the company's stock after acquiring an additional 3,173 shares during the period. Russell Investments Group Ltd.'s holdings in Churchill Downs were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp lifted its holdings in Churchill Downs by 22.1% in the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company's stock valued at $3,958,000 after acquiring an additional 5,372 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Churchill Downs by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock valued at $80,839,000 after purchasing an additional 10,153 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Churchill Downs during the fourth quarter valued at approximately $1,927,000. JPMorgan Chase & Co. boosted its holdings in Churchill Downs by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock worth $24,824,000 after buying an additional 12,226 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Churchill Downs by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 228,550 shares of the company's stock worth $30,521,000 after buying an additional 10,359 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHDN. Stifel Nicolaus reduced their price objective 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. JMP Securities reissued a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company cut their price objective on 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 downgraded shares of Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Finally, Barclays began coverage on shares of Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.44.

Churchill Downs Stock Performance

Shares of CHDN stock traded up $0.37 during trading hours on Friday, reaching $101.36. 617,923 shares of the company's stock were exchanged, compared to its average volume of 506,303. The business has a fifty day moving average price of $110.87 and a 200-day moving average price of $126.46. The stock has a market capitalization of $7.45 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week high of $150.21.

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 analysts' consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Churchill Downs's dividend payout ratio is currently 7.04%.

Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.