Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,470,000 shares, an increase of 5.8% from the December 31st total of 1,390,000 shares. Based on an average daily trading volume, of 441,500 shares, the short-interest ratio is presently 3.3 days.

Churchill Downs Price Performance

Shares of NASDAQ CHDN traded up $2.33 during trading on Thursday, hitting $123.27. The company had a trading volume of 616,652 shares, compared to its average volume of 498,623. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a fifty day simple moving average of $131.02 and a two-hundred day simple moving average of $136.01. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.06 and a beta of 0.95.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio (DPR) is 7.47%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in Churchill Downs during the second quarter worth $209,000. Creative Planning boosted its position in shares of Churchill Downs by 14.3% during the 2nd quarter. Creative Planning now owns 4,035 shares of the company's stock valued at $563,000 after acquiring an additional 504 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Churchill Downs by 215.9% in the second quarter. Truist Financial Corp now owns 24,147 shares of the company's stock valued at $3,371,000 after purchasing an additional 16,502 shares during the period. Sanctuary Advisors LLC acquired a new stake in Churchill Downs during the second quarter worth about $4,237,000. Finally, Point72 Asset Management L.P. raised its stake in Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock worth $34,944,000 after purchasing an additional 100,230 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHDN has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Mizuho cut their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd. Truist Financial restated a "buy" rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and an average target price of $160.88.

Churchill Downs Company 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.