Assenagon Asset Management S.A. Has $20.65 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Assenagon Asset Management S.A. raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 444.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,925 shares of the company's stock after purchasing an additional 151,805 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Churchill Downs worth $20,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CHDN. Norges Bank purchased a new position in shares of Churchill Downs during the 4th quarter valued at approximately $74,967,000. SG Americas Securities LLC raised its holdings in Churchill Downs by 28,864.9% in the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock valued at $56,879,000 after acquiring an additional 510,331 shares in the last quarter. Boston Partners raised its holdings in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after acquiring an additional 366,283 shares in the last quarter. FMR LLC boosted its stake in Churchill Downs by 6.4% during 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 during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Churchill Downs by 97.9% during the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after acquiring an additional 213,311 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna cut their target price 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. Jefferies Financial Group lowered their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a report on Friday, April 25th. 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. JMP Securities decreased their target price on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th. Finally, Truist Financial lowered their price target on Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.30.

Insider Buying and Selling

In other news, Director R Alex Rankin bought 2,000 shares of the stock in a transaction that occurred on 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 approximately $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas C. Grissom acquired 10,000 shares of Churchill Downs stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $92.77 per share, with a total value of $927,700.00. Following the transaction, the director now owns 38,869 shares in the company, valued at approximately $3,605,877.13. This represents a 34.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company's stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock traded down $3.51 on Friday, reaching $95.84. 647,665 shares of the company were exchanged, compared to its average volume of 587,166. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 2.95 and a beta of 0.94. Churchill Downs Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company's 50-day moving average is $96.85 and its two-hundred day moving average is $114.50.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued 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 company had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. Churchill Downs's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.25%. Churchill Downs's dividend payout ratio (DPR) is presently 7.12%.

Churchill Downs announced that its board has approved a stock repurchase plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.