Tidal Investments LLC Has $945,000 Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Tidal Investments LLC increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 295.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,988 shares of the company's stock after purchasing an additional 5,220 shares during the period. Tidal Investments LLC's holdings in Churchill Downs were worth $945,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Winslow Asset Management Inc. increased its position in shares of Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock valued at $443,000 after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Churchill Downs by 13.3% in the 3rd 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. Commerce Bank boosted its holdings in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company's stock worth $686,000 after buying an additional 90 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock worth $986,000 after acquiring an additional 105 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company's stock worth $2,592,000 after purchasing an additional 114 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Churchill Downs Stock Down 0.4 %

Shares of NASDAQ:CHDN traded down $0.52 on Friday, reaching $132.23. The company had a trading volume of 887,163 shares, compared to its average volume of 434,265. 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 market capitalization of $9.72 billion, a P/E ratio of 24.09, a P/E/G ratio of 3.84 and a beta of 0.95. The stock has a 50-day moving average price of $139.48 and a 200 day moving average price of $138.53. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued 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 business had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, equities analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. This is a positive change from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio (DPR) is 7.29%.

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.