OMERS ADMINISTRATION Corp Acquires Shares of 5,700 Churchill Downs Incorporated (NASDAQ:CHDN)

OMERS ADMINISTRATION Corp acquired a new position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,700 shares of the company's stock, valued at approximately $761,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. 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. Mizuho cut their price objective on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Barclays dropped their price target on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a report on Friday, April 25th. JMP Securities reaffirmed a "market outperform" rating and issued a $144.00 target price on shares of Churchill Downs in a research note on Monday, May 5th. Finally, Macquarie decreased their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $143.50.

Churchill Downs Stock Down 3.1%

Shares of NASDAQ:CHDN traded down $3.04 during trading on Wednesday, hitting $94.27. 840,133 shares of the company's stock traded hands, compared to its average volume of 563,273. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The company has a 50-day moving average price of $101.79 and a 200-day moving average price of $119.68. Churchill Downs Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company 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 business's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Dividend Announcement

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

Churchill Downs announced that its board has initiated a share repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director R Alex Rankin bought 2,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $92.65 per share, with a total value of $185,300.00. Following the acquisition, the director now owns 99,012 shares in the company, valued at $9,173,461.80. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas C. Grissom bought 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 completion of the purchase, the director now directly owns 38,869 shares in the company, valued at $3,605,877.13. This trade 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 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.