Churchill Downs Incorporated (NASDAQ:CHDN) Stock Position Lifted by Systematic Financial Management LP

Systematic Financial Management LP boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,274 shares of the company's stock after acquiring an additional 11,917 shares during the quarter. Systematic Financial Management LP owned 0.23% of Churchill Downs worth $23,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CHDN. Kimelman & Baird LLC acquired a new stake in Churchill Downs in the second quarter valued at approximately $42,000. CWM LLC raised its holdings in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after purchasing an additional 118 shares in the last quarter. UMB Bank n.a. raised its holdings in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock worth $76,000 after purchasing an additional 255 shares in the last quarter. GAMMA Investing LLC raised its holdings in Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company's stock worth $85,000 after purchasing an additional 257 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock worth $104,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of research analyst reports. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Truist Financial restated a "buy" rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Mizuho lowered their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 22nd. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Finally, 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Churchill Downs has an average rating of "Moderate Buy" and a consensus price target of $160.88.

Churchill Downs Price Performance

CHDN stock traded down $1.30 during trading on Thursday, hitting $140.96. The stock had a trading volume of 230,668 shares, compared to its average volume of 432,768. 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 stock has a market cap of $10.36 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 3.88 and a beta of 0.95. The company's 50 day moving average price is $139.64 and its two-hundred day moving average price is $138.30. 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 released its quarterly earnings results 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 firm 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%. Churchill Downs's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. 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 business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a $0.409 dividend. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio is currently 6.92%.

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.