Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Covestor Ltd

Covestor Ltd lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 16.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 633 shares of the company’s stock after selling 127 shares during the period. Covestor Ltd’s holdings in Churchill Downs were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CHDN. BNP Paribas Financial Markets increased its holdings in shares of Churchill Downs by 56.2% in the first quarter. BNP Paribas Financial Markets now owns 6,481 shares of the company’s stock valued at $802,000 after purchasing an additional 2,332 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Churchill Downs by 12.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,531 shares of the company’s stock valued at $1,179,000 after buying an additional 1,085 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Churchill Downs in the 1st quarter worth $354,000. Sei Investments Co. boosted its holdings in shares of Churchill Downs by 29.0% in the first quarter. Sei Investments Co. now owns 36,100 shares of the company’s stock valued at $4,468,000 after acquiring an additional 8,116 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Churchill Downs by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 3,626 shares of the company’s stock valued at $449,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CHDN shares. Truist Financial restated a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Wells Fargo & Company lifted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Trading Up 0.2 %

Churchill Downs stock opened at $141.54 on Thursday. The stock has a market cap of $10.40 billion, a PE ratio of 25.78, a P/E/G ratio of 3.91 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a 50-day moving average price of $138.94 and a 200 day moving average price of $137.64. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities research analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date is Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs’s payout ratio is 6.92%.

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.