First Horizon Advisors Inc. Has $90,000 Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

First Horizon Advisors Inc. lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 18.6% in the third quarter, HoldingsChannel reports. The fund owned 666 shares of the company’s stock after selling 152 shares during the period. First Horizon Advisors Inc.’s holdings in Churchill Downs were worth $90,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in Churchill Downs by 259.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock worth $2,772,000 after acquiring an additional 14,331 shares during the period. Aigen Investment Management LP bought a new position in shares of Churchill Downs in the third quarter worth $516,000. Assenagon Asset Management S.A. raised 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 in the last quarter. Point72 Asset Management L.P. lifted its position in Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after purchasing an additional 100,230 shares during the period. Finally, Boston Partners grew its stake in Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after buying an additional 35,587 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $141.87 on Monday. The firm has a market capitalization of $10.43 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.94 and a beta of 0.96. The business’s 50-day moving average price is $139.05 and its two-hundred day moving average price is $137.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating 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 business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. On average, analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date is 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 currently 7.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CHDN shares. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

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.