10,993 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Bought by Nomura Holdings Inc.

Nomura Holdings Inc. bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,993 shares of the company's stock, valued at approximately $1,468,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Blue Trust Inc. grew its holdings in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares in the last quarter. R Squared Ltd bought a new position in shares of Churchill Downs during the fourth quarter worth $55,000. Covestor Ltd boosted its position in shares of Churchill Downs by 46.8% during the fourth quarter. Covestor Ltd now owns 929 shares of the company's stock worth $124,000 after acquiring an additional 296 shares during the last quarter. Kentucky Trust Co purchased a new position in Churchill Downs during the fourth quarter valued at $134,000. Finally, Larson Financial Group LLC increased its holdings in Churchill Downs by 119,900.0% in the 4th quarter. Larson Financial Group LLC now owns 1,200 shares of the company's stock valued at $160,000 after acquiring an additional 1,199 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Insider Buying and Selling at Churchill Downs

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Barclays reduced their price objective on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their target price on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. JMP Securities reaffirmed a "market outperform" rating and set a $144.00 price target on shares of Churchill Downs in a research note on Monday, May 5th. Finally, Susquehanna lowered their price objective on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $143.50.

Churchill Downs Trading Down 3.1%

Shares of CHDN traded down $3.04 during mid-day trading on Wednesday, reaching $94.27. The stock had a trading volume of 840,133 shares, compared to its average volume of 563,273. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 2.95 and a beta of 1.02. The business's fifty day moving average is $101.79 and its 200 day moving average is $119.68. 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 quarterly earnings data 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). 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 earnings per share. The company's revenue 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 fiscal year.

Churchill Downs declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Churchill Downs Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.25%. Churchill Downs's dividend payout ratio (DPR) is currently 7.12%.

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.