Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 19.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,045 shares of the company’s stock after purchasing an additional 171 shares during the period. GAMMA Investing LLC’s holdings in Churchill Downs were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new stake in Churchill Downs in the 3rd quarter valued at approximately $516,000. Westfield Capital Management Co. LP grew its stake in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after purchasing an additional 100,230 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Churchill Downs during the second quarter valued at about $794,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Churchill Downs by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after purchasing an additional 57,892 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $129.07 on Friday. The firm has a fifty day moving average price of $137.32 and a two-hundred day moving average price of $138.10. The company has a market cap of $9.49 billion, a PE ratio of 23.51, 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. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. During the same period in the previous year, the business posted $0.87 earnings per share. Churchill Downs’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.29%.

Analysts Set New Price Targets

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

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.