Voya Investment Management LLC Sells 163,259 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Voya Investment Management LLC decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,956 shares of the company's stock after selling 163,259 shares during the quarter. Voya Investment Management LLC owned 0.47% of Churchill Downs worth $46,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC lifted its position in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd acquired a new stake in Churchill Downs in the 4th quarter valued at $55,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Up 0.4 %

NASDAQ CHDN opened at $88.35 on Friday. 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 Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The stock has a market capitalization of $6.49 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The stock has a fifty day moving average of $108.37 and a 200-day moving average of $125.07.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. On average, equities research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its board has initiated a stock buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Churchill Downs Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Churchill Downs's dividend payout ratio is presently 7.12%.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of analyst reports. Barclays cut their price objective on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a report on Friday. Truist Financial cut their price target on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, JMP Securities restated a "market outperform" rating and set a $157.00 price target on shares of Churchill Downs in a research report on Thursday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $144.80.

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.

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