Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,434 shares of the company's stock after purchasing an additional 3,383 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Churchill Downs worth $5,934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Truist Financial Corp increased its position in Churchill Downs by 22.1% during the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company's stock worth $3,958,000 after purchasing an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Churchill Downs by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after buying an additional 10,153 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Churchill Downs in the fourth quarter worth $1,927,000. Optimize Financial Inc purchased a new position in shares of Churchill Downs in the 4th quarter valued at $516,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock valued at $24,824,000 after acquiring an additional 12,226 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Down 0.7 %

Shares of CHDN stock traded down $0.59 during mid-day trading on Tuesday, reaching $88.79. 369,652 shares of the company were exchanged, compared to its average volume of 532,932. 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 business's 50 day simple moving average is $107.76 and its 200 day simple moving average is $124.51. The company has a market capitalization of $6.52 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share 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%. Churchill Downs's revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 earnings per share. Research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Churchill Downs Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.27%. Churchill Downs's payout ratio is currently 7.12%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CHDN shares. Mizuho lowered their price target on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Macquarie reduced their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Barclays reduced their target price on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.80.

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.