Churchill Downs Incorporated (NASDAQ:CHDN) Stock Position Raised by Quarry LP

Quarry LP lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 957.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846 shares of the company’s stock after buying an additional 766 shares during the period. Quarry LP’s holdings in Churchill Downs were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CHDN. William Blair Investment Management LLC bought a new position in Churchill Downs in the 2nd quarter worth about $125,418,000. Westfield Capital Management Co. LP grew its position in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Churchill Downs in the 2nd quarter worth about $26,384,000. Finally, WCM Investment Management LLC bought a new position in Churchill Downs in the 3rd quarter worth about $15,231,000. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CHDN shares. Truist Financial restated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Mizuho reduced their price target on shares of 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 shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Down 1.3 %

CHDN stock opened at $139.18 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The firm has a 50 day simple moving average of $139.89 and a 200 day simple moving average of $138.36. The firm has a market cap of $10.23 billion, a PE ratio of 25.35, a P/E/G ratio of 3.94 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued 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 firm had revenue of $628.50 million during 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%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Equities research analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. This represents a dividend yield of 0.29%. 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. Churchill Downs’s dividend payout ratio (DPR) is presently 6.92%.

Churchill Downs Company 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.