SRS Capital Advisors Inc. Raises Position in Churchill Downs Incorporated (NASDAQ:CHDN)

SRS Capital Advisors Inc. boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,540 shares of the company’s stock after buying an additional 152 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Churchill Downs were worth $339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp lifted its stake in Churchill Downs by 22.1% in the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock valued at $3,958,000 after buying an additional 5,372 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake 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 valued at $103,241,000 after buying an additional 381,754 shares in the last quarter. Aigen Investment Management LP purchased a new position in Churchill Downs in the 3rd quarter valued at about $516,000. Atria Investments Inc lifted its stake in Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Churchill Downs by 6.8% in the 3rd 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 in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 2.8 %

CHDN stock opened at $115.16 on Tuesday. The firm has a market cap of $8.47 billion, a PE ratio of 20.27, a PEG ratio of 2.95 and a beta of 0.95. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The firm’s 50 day moving average price is $124.96 and its 200-day moving average price is $133.77. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Wall Street Analyst Weigh In

A number of 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. Wells Fargo & Company decreased their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus decreased their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.38.

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.