MetLife Investment Management LLC Boosts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

MetLife Investment Management LLC boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,051 shares of the company’s stock after buying an additional 2,548 shares during the period. MetLife Investment Management LLC’s holdings in Churchill Downs were worth $5,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHDN. Kimelman & Baird LLC purchased a new position in Churchill Downs during the second quarter valued at approximately $42,000. CWM LLC increased its holdings in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. grew its position in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Bank & Trust Co bought a new position in Churchill Downs in the 2nd quarter worth about $84,000. Finally, GAMMA Investing LLC raised its holdings in shares of Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $142.11 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a market cap of $10.45 billion, a PE ratio of 25.89, a PEG ratio of 3.88 and a beta of 0.96. The company’s fifty day moving average is $139.18 and its 200 day moving average is $138.11. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same quarter in the previous year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho cut their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Wells Fargo & Company increased their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.88.

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.