Aptus Capital Advisors LLC Has $5.84 Million Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Aptus Capital Advisors LLC boosted its stake in 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 institutional investor owned 43,701 shares of the company's stock after acquiring an additional 7,961 shares during the quarter. Aptus Capital Advisors LLC owned 0.06% of Churchill Downs worth $5,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its position in shares of Churchill Downs by 22.1% during the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company's stock worth $3,958,000 after buying an additional 5,372 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Churchill Downs by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after acquiring an additional 10,153 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Churchill Downs during the 4th quarter worth approximately $1,927,000. Landmark Investment Partners L.P. bought a new stake in shares of Churchill Downs in the fourth quarter worth $13,317,000. Finally, Optimize Financial Inc acquired a new position in Churchill Downs during the fourth quarter worth $516,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin bought 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $92.65 per share, with a total value of $185,300.00. Following the completion of the purchase, the director now directly owns 99,012 shares of the company's stock, valued at approximately $9,173,461.80. This trade represents a 2.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.34% of the company's stock.

Wall Street Analyst Weigh In

CHDN has been the topic of several analyst reports. Barclays cut their price target 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. Macquarie reduced their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Mizuho reduced their price objective on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Churchill Downs presently has an average rating of "Moderate Buy" and a consensus target price of $143.50.

Churchill Downs Price Performance

Churchill Downs stock traded up $0.32 during midday trading on Wednesday, reaching $92.52. The company's stock had a trading volume of 1,070,687 shares, compared to its average volume of 546,895. The stock has a market cap of $6.68 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The business has a 50-day moving average price of $104.80 and a 200-day moving average price of $122.62. Churchill Downs Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21.

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

Churchill Downs announced that its board has approved a share repurchase program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Churchill Downs's dividend payout ratio (DPR) is 7.12%.

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.