Renaissance Technologies LLC Raises Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Renaissance Technologies LLC raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,950 shares of the company's stock after acquiring an additional 11,400 shares during the quarter. Renaissance Technologies LLC owned about 0.12% of Churchill Downs worth $11,344,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs during the third quarter valued at $27,000. Fortitude Family Office LLC lifted its position in Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs in the 4th quarter valued at $55,000. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CHDN shares. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. 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. Barclays started coverage on shares of Churchill Downs in a research report on Friday, April 11th. They issued an "overweight" rating and a $125.00 price objective on the stock. Mizuho reduced their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Churchill Downs currently has an average rating of "Moderate Buy" and an average target price of $153.44.

Churchill Downs Trading Down 1.1 %

NASDAQ CHDN traded down $1.09 during mid-day trading on Monday, reaching $100.27. 48,704 shares of the stock were exchanged, compared to its average volume of 504,989. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market cap of $7.37 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.95 and a beta of 0.86. The stock has a 50 day simple moving average of $110.87 and a 200-day simple moving average of $126.32. Churchill Downs Incorporated has a one year low of $96.67 and a one year high of $150.21.

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

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. Churchill Downs's dividend payout ratio (DPR) is currently 7.04%.

Churchill Downs announced that its board has approved a stock buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is 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.