Venturi Wealth Management LLC Grows Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Venturi Wealth Management LLC boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 767 shares of the company’s stock after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC’s holdings in Churchill Downs were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Investments Inc grew its stake in shares of Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares during the last quarter. Applied Finance Capital Management LLC grew its position in Churchill Downs by 110.0% in the 3rd quarter. Applied Finance Capital Management LLC now owns 3,761 shares of the company’s stock valued at $509,000 after acquiring an additional 1,970 shares during the last quarter. Olympiad Research LP purchased a new stake in Churchill Downs in the third quarter worth $392,000. Amalgamated Bank lifted its position in shares of Churchill Downs by 2.7% during the third quarter. Amalgamated Bank now owns 35,788 shares of the company’s stock worth $4,839,000 after purchasing an additional 934 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Churchill Downs by 127.6% during the third quarter. Harbor Capital Advisors Inc. now owns 45,202 shares of the company’s stock valued at $6,112,000 after purchasing an additional 25,345 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHDN shares. Mizuho decreased their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a report on Monday, August 12th. Stifel Nicolaus raised their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Price Performance

Shares of CHDN stock opened at $140.91 on Friday. The company has a market cap of $10.36 billion, a P/E ratio of 25.67, a PEG ratio of 3.91 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50-day moving average is $138.99 and its 200 day moving average is $137.66. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for 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 quarter in the previous year, the firm earned $0.87 EPS. 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 announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 6.92%.

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.