Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2,733.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255 shares of the company’s stock after purchasing an additional 246 shares during the period. Fortitude Family Office LLC’s holdings in Churchill Downs were worth $34,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Churchill Downs by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,045 shares of the company’s stock worth $140,000 after acquiring an additional 171 shares during the period. JPMorgan Chase & Co. raised its position in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Churchill Downs by 3.8% in the 3rd quarter. Retirement Systems of Alabama now owns 180,569 shares of the company’s stock worth $24,415,000 after purchasing an additional 6,626 shares during the last quarter. Franklin Resources Inc. boosted its position in Churchill Downs by 6.6% during the 3rd quarter. Franklin Resources Inc. now owns 197,118 shares of the company’s stock valued at $27,338,000 after purchasing an additional 12,156 shares during the period. Finally, Synovus Financial Corp grew its stake in Churchill Downs by 3.0% during the 3rd quarter. Synovus Financial Corp now owns 10,381 shares of the company’s stock worth $1,404,000 after buying an additional 303 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CHDN shares. Wells Fargo & Company boosted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial restated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho reduced their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Performance

CHDN opened at $126.86 on Friday. The business has a 50 day moving average price of $137.32 and a two-hundred day moving average price of $138.10. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 3.84 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.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share 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 during the quarter, compared to analyst estimates of $627.90 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. 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 disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. 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.