GABELLI & Co INVESTMENT ADVISERS INC. Takes $534,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,000 shares of the company's stock, valued at approximately $534,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs during the third quarter worth approximately $27,000. Fortitude Family Office LLC boosted its stake in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after buying an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd acquired a new stake in shares of Churchill Downs in the 4th quarter worth $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Stifel Nicolaus decreased their price objective 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, Barclays started coverage on Churchill Downs in a research note on Friday, April 11th. They set an "overweight" rating and a $125.00 target price for the company. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and an average price target of $153.44.

Churchill Downs Trading Down 1.6 %

Shares of NASDAQ CHDN traded down $1.60 during trading on Monday, reaching $99.76. The stock had a trading volume of 137,641 shares, compared to its average volume of 505,303. The business's 50-day moving average price is $110.87 and its 200-day moving average price is $126.32. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week 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 has a market cap of $7.33 billion, a P/E ratio of 17.56, a PEG ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million for the quarter, compared to analysts' expectations of $620.21 million. On average, equities research analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 0.24%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.

Churchill Downs announced that its board has authorized a share repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

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.