Quest Partners LLC Acquires New Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Quest Partners LLC bought a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,150 shares of the company’s stock, valued at approximately $832,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its position in shares of Churchill Downs by 6.7% in the third quarter. Thrivent Financial for Lutherans now owns 17,248 shares of the company’s stock valued at $2,332,000 after buying an additional 1,086 shares in the last quarter. Atlanta Consulting Group Advisors LLC increased its holdings in Churchill Downs by 9.1% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 50,115 shares of the company’s stock valued at $6,776,000 after acquiring an additional 4,201 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Churchill Downs by 3.6% during the third quarter. Mutual of America Capital Management LLC now owns 39,677 shares of the company’s stock worth $5,365,000 after acquiring an additional 1,379 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Churchill Downs by 11.7% in the third quarter. Natixis Advisors LLC now owns 120,887 shares of the company’s stock valued at $16,345,000 after purchasing an additional 12,614 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Churchill Downs by 24.0% in the third quarter. Empowered Funds LLC now owns 9,355 shares of the company’s stock valued at $1,265,000 after purchasing an additional 1,810 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Up 1.7 %

NASDAQ CHDN opened at $142.38 on Friday. The company has a market cap of $10.46 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.84 and a beta of 0.96. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. 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 50-day moving average of $139.02 and a 200-day moving average of $137.96.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same quarter last year, the firm posted $0.87 earnings per share. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is 6.92%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CHDN shares. Mizuho cut 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. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Macquarie increased their price objective on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average price target 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.