Churchill Downs Incorporated (NASDAQ:CHDN) Stock Holdings Raised by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,344,595 shares of the company's stock after acquiring an additional 59,657 shares during the period. Churchill Downs accounts for about 2.4% of ArrowMark Colorado Holdings LLC's investment portfolio, making the stock its 3rd largest holding. ArrowMark Colorado Holdings LLC owned about 1.83% of Churchill Downs worth $179,557,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Churchill Downs by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after buying an additional 107,737 shares during the last quarter. FMR LLC lifted its position in Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after acquiring an additional 214,694 shares in the last quarter. Boston Partners boosted its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Churchill Downs by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock worth $201,223,000 after purchasing an additional 77,213 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Churchill Downs by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company's stock worth $174,917,000 after purchasing an additional 10,018 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Price Performance

NASDAQ:CHDN traded up $1.32 during trading hours on Tuesday, hitting $92.03. 1,146,040 shares of the stock traded hands, compared to its average volume of 545,287. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. Churchill Downs Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The stock has a 50 day moving average price of $105.30 and a 200 day moving average price of $122.84. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly 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 business had revenue of $642.60 million during the quarter, compared to analysts' expectations of $649.68 million. During the same quarter in the previous year, the company posted $1.13 EPS. The company's quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

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

Churchill Downs Announces Dividend

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

Wall Street Analyst Weigh In

CHDN has been the topic of several recent analyst reports. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Mizuho cut their target price 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. JMP Securities reiterated a "market outperform" rating and set a $144.00 target price on shares of Churchill Downs in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.