Natixis Advisors LLC Acquires 12,614 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Natixis Advisors LLC increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 11.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 120,887 shares of the company’s stock after buying an additional 12,614 shares during the quarter. Natixis Advisors LLC owned about 0.16% of Churchill Downs worth $16,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CHDN. Capital International Investors raised its holdings in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Churchill Downs during the 2nd quarter valued at $125,418,000. Boston Partners boosted its stake in shares of Churchill Downs by 4.4% in the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after buying an additional 35,587 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $88,551,000 after acquiring an additional 3,608 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after acquiring an additional 57,892 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho dropped their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Macquarie boosted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Finally, Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $138.74 on Wednesday. The business has a 50-day moving average price of $138.98 and a 200-day moving average price of $137.92. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 3.85 and a beta of 0.96. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same period last year, the firm posted $0.87 EPS. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a $0.409 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. Churchill Downs’s payout ratio is currently 7.29%.

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.