Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,603 shares of the company's stock after selling 17,185 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Churchill Downs worth $27,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winslow Asset Management Inc. grew its position in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock worth $443,000 after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC grew 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 acquiring an additional 90 shares during the period. Commerce Bank raised its position in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company's stock valued at $686,000 after acquiring an additional 90 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company's stock valued at $114,000 after buying an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock worth $986,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of recent analyst reports. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. JMP Securities reiterated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Truist Financial reaffirmed a "buy" rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.88.

Churchill Downs Trading Down 0.3 %

Shares of NASDAQ:CHDN traded down $0.39 during mid-day trading on Thursday, reaching $141.87. 78,255 shares of the company were exchanged, compared to its average volume of 432,357. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm's 50-day simple moving average is $139.64 and its 200 day simple moving average is $138.30. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 3.88 and a beta of 0.95.

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, beating 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 return on equity of 45.48% and a net margin of 15.45%. The company's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs's payout ratio is 6.92%.

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.