Janus Henderson Group PLC Has $72.90 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Janus Henderson Group PLC increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 20.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 545,912 shares of the company's stock after purchasing an additional 94,351 shares during the period. Janus Henderson Group PLC owned approximately 0.74% of Churchill Downs worth $72,903,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Churchill Downs by 59.2% during the 3rd quarter. Barclays PLC now owns 29,584 shares of the company's stock worth $4,000,000 after purchasing an additional 11,006 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs during the fourth quarter worth $55,000. Community Trust & Investment Co. increased its holdings in Churchill Downs by 2.3% in the 4th quarter. Community Trust & Investment Co. now owns 132,565 shares of the company's stock valued at $17,703,000 after buying an additional 2,936 shares during the period. Park Avenue Securities LLC increased its holdings in Churchill Downs by 20.6% in the 4th quarter. Park Avenue Securities LLC now owns 10,943 shares of the company's stock valued at $1,461,000 after buying an additional 1,871 shares during the period. Finally, Argent Capital Management LLC raised its stake in shares of Churchill Downs by 9.7% in the 4th quarter. Argent Capital Management LLC now owns 21,435 shares of the company's stock valued at $2,862,000 after buying an additional 1,893 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Insider Buying and Selling at Churchill Downs

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHDN. Jefferies Financial Group decreased their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Susquehanna decreased their price objective on Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Macquarie dropped their target price on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Truist Financial cut their price objective on Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.50.

Churchill Downs Trading Down 0.0%

CHDN stock traded down $0.04 during midday trading on Monday, reaching $98.23. The stock had a trading volume of 64,757 shares, compared to its average volume of 558,773. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 2.95 and a beta of 1.02. Churchill Downs Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a fifty day simple moving average of $102.17 and a two-hundred day simple moving average of $120.12.

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

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

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 is presently 7.12%.

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.