Aptus Capital Advisors LLC Acquires 7,961 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Aptus Capital Advisors LLC grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,701 shares of the company's stock after purchasing an additional 7,961 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.06% of Churchill Downs worth $5,836,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake 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 acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the third quarter valued at about $27,000. Fortitude Family Office LLC grew its stake in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after buying an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Churchill Downs in the fourth quarter worth about $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs in the 4th quarter valued at about $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 1.4 %

NASDAQ:CHDN traded up $1.34 during mid-day trading on Friday, hitting $95.06. 466,828 shares of the company's stock were exchanged, compared to its average volume of 738,415. The company has a market cap of $6.87 billion, a PE ratio of 16.74, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a one year low of $85.58 and a one year high of $150.21. The business has a fifty day moving average price of $103.85 and a 200 day moving average price of $122.13.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $642.60 million during the quarter, compared to analysts' expectations of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 EPS. Equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its board has initiated a share buyback program on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Churchill Downs Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Churchill Downs's payout ratio is 7.12%.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin purchased 2,000 shares of the stock in a transaction dated Monday, May 5th. The shares were purchased at an average cost of $92.65 per share, with a total value of $185,300.00. Following the completion of the acquisition, the director now directly owns 99,012 shares in the company, valued at $9,173,461.80. This trade represents a 2.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas C. Grissom acquired 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the transaction, the director now directly owns 38,869 shares of the company's stock, valued at $3,605,877.13. The trade was a 34.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CHDN shares. Jefferies Financial Group decreased their price target on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Barclays decreased their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Susquehanna dropped their target price on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Macquarie reduced their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.50.

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.