Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 21.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,849 shares of the company's stock after selling 18,545 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.10% of Churchill Downs worth $9,328,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CHDN. Blue Trust Inc. raised its holdings in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the third quarter worth $27,000. Fortitude Family Office LLC boosted its stake in shares of Churchill Downs by 2,733.3% in the 4th 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 period. Eagle Bay Advisors LLC acquired a new position in Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd purchased a new stake in shares of Churchill Downs in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Up 1.2 %

NASDAQ:CHDN opened at $89.37 on Tuesday. Churchill Downs Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The firm has a market capitalization of $6.57 billion, a P/E ratio of 15.73, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The stock's fifty day simple moving average is $107.76 and its 200-day simple moving average is $124.51.

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

Churchill Downs declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Churchill Downs Dividend Announcement

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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Churchill Downs's dividend payout ratio is currently 7.12%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and issued a $157.00 price objective on shares of Churchill Downs in a research report on Thursday, April 24th. Truist Financial cut their price objective on Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus decreased their target price on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Susquehanna dropped their price objective on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Churchill Downs has an average rating of "Moderate Buy" and an average price target of $144.80.

Churchill Downs Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.