Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Trexquant Investment LP

Trexquant Investment LP trimmed its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,923 shares of the company's stock after selling 26,708 shares during the period. Trexquant Investment LP's holdings in Churchill Downs were worth $3,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHDN. Truist Financial Corp increased its stake 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 purchasing an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock valued at $80,839,000 after buying an additional 10,153 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Churchill Downs during the 4th quarter worth $1,927,000. JPMorgan Chase & Co. boosted its position in shares of Churchill Downs by 7.1% in the 3rd 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 stake in Churchill Downs by 4.7% in the 4th quarter. Victory Capital Management Inc. now owns 228,550 shares of the company's stock valued at $30,521,000 after acquiring an additional 10,359 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Trading Up 0.1 %

Churchill Downs stock traded up $0.10 during trading on Friday, hitting $102.51. The company's stock had a trading volume of 586,981 shares, compared to its average volume of 504,800. The stock's fifty day moving average is $112.92 and its 200 day moving average is $127.55. Churchill Downs Incorporated has a 1-year low of $96.67 and a 1-year high of $150.21. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. As a group, equities research analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs's dividend payout ratio is currently 7.04%.

Churchill Downs announced that its board has approved a share repurchase program on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday. JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho dropped their price target on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com cut Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.44.

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.