WCM Investment Management LLC boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,841 shares of the company's stock after buying an additional 25,197 shares during the quarter. WCM Investment Management LLC owned 0.19% of Churchill Downs worth $18,627,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Winslow Asset Management Inc. boosted its holdings in Churchill Downs by 2.8% in the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock valued at $443,000 after acquiring an additional 90 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock valued at $104,000 after buying an additional 90 shares during the last quarter. Commerce Bank grew its holdings in Churchill Downs by 1.8% in the 3rd 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. Blue Trust Inc. increased its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the period. Finally, Cetera Trust Company N.A grew its holdings in Churchill Downs by 7.7% during the fourth quarter. Cetera Trust Company N.A now owns 1,877 shares of the company's stock worth $251,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.
Churchill Downs Stock Down 0.7 %
NASDAQ CHDN traded down $0.86 during mid-day trading on Wednesday, reaching $120.90. The stock had a trading volume of 441,582 shares, compared to its average volume of 501,010. The stock has a market cap of $8.89 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95. 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 company has a fifty day moving average price of $129.42 and a 200 day moving average price of $135.47.
Churchill Downs Increases Dividend
The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. This is a positive change from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs's payout ratio is currently 7.47%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on CHDN shares. Mizuho cut their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut their price target on shares of Churchill Downs from $168.00 to $165.00 and set an "overweight" rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.50.
Check Out Our Latest Stock Analysis on Churchill Downs
Churchill Downs Profile
(
Free Report)
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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