SG Americas Securities LLC Has $56.88 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

SG Americas Securities LLC lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 28,864.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 512,099 shares of the company's stock after acquiring an additional 510,331 shares during the period. SG Americas Securities LLC owned 0.70% of Churchill Downs worth $56,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its holdings in Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after purchasing an additional 100 shares during the last quarter. Utah Retirement Systems boosted its holdings in shares of Churchill Downs by 2.7% during the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after buying an additional 100 shares during the period. Blue Trust Inc. grew its stake in Churchill Downs by 127.2% in 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 during the last quarter. Arizona State Retirement System raised its holdings in Churchill Downs by 0.6% in the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock worth $2,559,000 after acquiring an additional 116 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock worth $301,000 after acquiring an additional 120 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Churchill Downs stock traded down $3.51 during trading hours on Friday, hitting $95.84. The stock had a trading volume of 647,665 shares, compared to its average volume of 587,166. The company has a 50-day moving average of $96.81 and a two-hundred day moving average of $114.20. 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 Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The company has a market cap of $6.92 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.95 and a beta of 0.94.

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

Churchill Downs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Churchill Downs's payout ratio is 7.12%.

Churchill Downs declared that its board has initiated a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a report on Friday, April 25th. Macquarie decreased their target price on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Stifel Nicolaus cut their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company reduced their price objective 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. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Churchill Downs has an average rating of "Moderate Buy" and a consensus price target of $142.30.

Insider Activity

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

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.