Mutual of America Capital Management LLC Acquires 1,379 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Mutual of America Capital Management LLC boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,677 shares of the company’s stock after purchasing an additional 1,379 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Churchill Downs worth $5,365,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHDN. William Blair Investment Management LLC bought a new position in shares of Churchill Downs in the second quarter valued at $125,418,000. Assenagon Asset Management S.A. lifted its stake in Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $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 during the second quarter valued at $26,384,000. Capital International Investors increased its position in Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after buying an additional 177,900 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in Churchill Downs by 60.1% in the 2nd quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock valued at $48,452,000 after acquiring an additional 130,331 shares during the period. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CHDN shares. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $155.00 in a research note on Monday, August 12th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho reduced their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. 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 investment 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 company has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $139.97 on Thursday. The stock has a market capitalization of $10.29 billion, a PE ratio of 25.50, a P/E/G ratio of 3.85 and a beta of 0.96. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The business has a 50 day simple moving average of $138.98 and a two-hundred day simple moving average of $137.93. 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 (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. Churchill Downs’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 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.