Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC raised its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 3,689.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,160 shares of the company’s stock after buying an additional 2,103 shares during the period. Avior Wealth Management LLC’s holdings in Churchill Downs were worth $292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its position in Churchill Downs by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 40,359 shares of the company’s stock valued at $4,988,000 after acquiring an additional 230 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Churchill Downs by 6.7% during the 1st quarter. Janus Henderson Group PLC now owns 432,867 shares of the company’s stock valued at $53,564,000 after purchasing an additional 27,173 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Churchill Downs in the 1st quarter valued at $235,000. Strategic Wealth Partners Ltd. boosted its holdings in Churchill Downs by 48.7% during the first quarter. Strategic Wealth Partners Ltd. now owns 8,969 shares of the company’s stock worth $1,110,000 after buying an additional 2,936 shares in the last quarter. Finally, Community Trust & Investment Co. boosted its holdings in Churchill Downs by 19.5% during the first quarter. Community Trust & Investment Co. now owns 129,913 shares of the company’s stock worth $16,077,000 after buying an additional 21,200 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CHDN shares. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Macquarie boosted their price objective on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho dropped their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Price Performance

CHDN stock opened at $141.87 on Friday. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The firm has a market capitalization of $10.43 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. 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 business has a 50 day simple moving average of $139.05 and a 200-day simple moving average of $138.00.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results 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. The company had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Equities research analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s payout ratio is presently 6.92%.

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.