Harbor Capital Advisors Inc. Acquires 25,345 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Harbor Capital Advisors Inc. raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 127.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,202 shares of the company’s stock after purchasing an additional 25,345 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.06% of Churchill Downs worth $6,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHDN. Kimelman & Baird LLC bought a new position in shares of Churchill Downs in the second quarter valued at about $42,000. Central Pacific Bank Trust Division acquired a new position in shares of Churchill Downs during the first quarter worth approximately $44,000. CWM LLC grew its stake in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after purchasing an additional 255 shares in the last quarter. Finally, Bank & Trust Co bought a new position in Churchill Downs in the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CHDN shares. Stifel Nicolaus increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Mizuho lowered their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, Jefferies Financial Group boosted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $138.48 on Friday. The firm’s 50 day simple moving average is $138.25 and its 200 day simple moving average is $136.49. Churchill Downs Incorporated has a fifty-two week low of $108.00 and a fifty-two week high of $146.64. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 3.99 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.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm 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 business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, sell-side analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

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

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.