Voya Investment Management LLC trimmed its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,956 shares of the company's stock after selling 163,259 shares during the quarter. Voya Investment Management LLC owned 0.47% of Churchill Downs worth $46,333,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in 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 buying an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the 3rd quarter worth about $27,000. Fortitude Family Office LLC lifted its holdings in Churchill Downs by 2,733.3% during the 4th 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 during the 4th quarter worth about $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs during the 4th quarter worth about $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CHDN. Stifel Nicolaus decreased their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Barclays reduced their price objective on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. JMP Securities reissued a "market outperform" rating and issued a $157.00 target price on shares of Churchill Downs in a report on Thursday, April 24th. Mizuho cut their price target on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group cut their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.80.
Check Out Our Latest Stock Report on CHDN
Churchill Downs Stock Down 0.0 %
Shares of CHDN traded down $0.02 during trading on Thursday, reaching $90.39. The company's stock had a trading volume of 487,956 shares, compared to its average volume of 538,478. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.95 and a beta of 0.86. 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 company has a fifty day moving average of $106.68 and a two-hundred day moving average of $124.05. Churchill Downs Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The company had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. On average, sell-side analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.
Churchill Downs Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Churchill Downs's payout ratio is currently 7.12%.
Churchill Downs announced that its board has authorized a stock buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
About Churchill Downs
(
Free Report)
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.
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