Sanctuary Advisors LLC Acquires 2,641 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Sanctuary Advisors LLC increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,374 shares of the company’s stock after purchasing an additional 2,641 shares during the quarter. Sanctuary Advisors LLC’s holdings in Churchill Downs were worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CHDN. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs during the second quarter valued at approximately $42,000. CWM LLC lifted its holdings in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the period. UMB Bank n.a. grew 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 worth $76,000 after acquiring an additional 255 shares during the period. Venturi Wealth Management LLC increased its position in shares of Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Churchill Downs during the second quarter valued at approximately $112,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

CHDN stock opened at $136.05 on Monday. 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 Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The business has a 50-day moving average price of $140.03 and a 200 day moving average price of $138.57. The company has a market capitalization of $10.00 billion, a P/E ratio of 24.78, a PEG ratio of 3.84 and a beta of 0.95.

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 analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period last year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company 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 boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio is presently 7.29%.

Wall Street Analyst Weigh In

CHDN has been the topic of several analyst reports. Truist Financial reiterated 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. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company raised their price objective 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. Finally, Mizuho lowered their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.