Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 35.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,023 shares of the company’s stock after selling 3,376 shares during the quarter. Corient Private Wealth LLC’s holdings in Churchill Downs were worth $804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the 3rd quarter worth $27,000. Fortitude Family Office LLC increased its position in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs in the 4th quarter valued at about $55,000. Finally, R Squared Ltd bought a new position in shares of Churchill Downs during the fourth quarter worth about $55,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Stifel Nicolaus decreased their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Stock Down 0.9 %

Churchill Downs stock opened at $112.40 on Friday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a one year low of $105.18 and a one year high of $150.21. The company has a 50-day simple moving average of $118.07 and a 200-day simple moving average of $130.55. The firm has a market capitalization of $8.26 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last announced 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 during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Churchill Downs’s payout ratio is 7.04%.

Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Churchill Downs

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.