UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 4,036 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,639 shares of the company's stock after purchasing an additional 4,036 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of Churchill Downs worth $28,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after acquiring an additional 107,737 shares during the period. FMR LLC grew its holdings in shares of 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 in the last quarter. Boston Partners lifted its stake 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 during the last quarter. Schroder Investment Management Group raised its position in shares of Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after purchasing an additional 77,213 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Churchill Downs by 4.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock valued at $179,557,000 after acquiring an additional 59,657 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CHDN shares. JMP Securities reduced their target price on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a report on Tuesday. Wells Fargo & Company cut 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. Truist Financial decreased their price target on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. 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. Finally, Susquehanna lowered their target price on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.30.

Churchill Downs Trading Down 0.3%

CHDN stock traded down $0.25 during midday trading on Wednesday, hitting $94.29. The company had a trading volume of 875,236 shares, compared to its average volume of 568,969. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.95 and a beta of 1.02. 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 stock's 50 day moving average price is $99.66 and its 200 day moving average price is $117.81. 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 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $642.60 million during the quarter, compared to analysts' expectations 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 earned $1.13 earnings per share. As a group, equities research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Dividend Announcement

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

Churchill Downs announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director R Alex Rankin purchased 2,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $92.65 per share, with a total value of $185,300.00. Following the completion of the acquisition, the director now owns 99,012 shares of the company's stock, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas C. Grissom acquired 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought 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 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. 5.34% of the stock is owned by company insiders.

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.