Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2,733.3% in the 4th quarter, HoldingsChannel reports. The firm owned 255 shares of the company’s stock after acquiring an additional 246 shares during the quarter. Fortitude Family Office LLC’s holdings in Churchill Downs were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the third quarter valued at about $27,000. Kimelman & Baird LLC acquired a new stake in shares of Churchill Downs during the second quarter valued at approximately $42,000. UMB Bank n.a. lifted its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Churchill Downs during the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $126.86 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $9.32 billion, a PE ratio of 23.11, a PEG ratio of 3.84 and a beta of 0.96. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The firm’s 50 day moving average price is $137.32 and its 200 day moving average price is $138.10.

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

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is currently 7.29%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHDN. Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, December 19th. Truist Financial reiterated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.88.

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.