Cerity Partners LLC Has $12.41 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Cerity Partners LLC grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,787 shares of the company’s stock after buying an additional 4,095 shares during the quarter. Cerity Partners LLC’s holdings in Churchill Downs were worth $12,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC bought a new stake in Churchill Downs during the 2nd quarter worth approximately $125,418,000. Boston Partners grew its holdings in shares of Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after purchasing an additional 35,587 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Churchill Downs by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock valued at $88,551,000 after buying an additional 3,608 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after buying an additional 37,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Churchill Downs by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after buying an additional 57,892 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHDN. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. 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 note on Thursday, October 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Down 0.0 %

NASDAQ CHDN opened at $141.83 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a market capitalization of $10.42 billion, a PE ratio of 25.83, a P/E/G ratio of 3.93 and a beta of 0.96. The stock has a 50-day simple moving average of $139.07 and a 200 day simple moving average of $138.02.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 last year, the company posted $0.87 EPS. Research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

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

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.