Eagle Bay Advisors LLC Acquires New Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Eagle Bay Advisors LLC bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 409 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in Churchill Downs by 7.9% in the second quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock valued at $308,000 after acquiring an additional 162 shares during the period. Choreo LLC grew its position in shares of Churchill Downs by 30.2% in the 2nd quarter. Choreo LLC now owns 2,611 shares of the company’s stock valued at $362,000 after purchasing an additional 605 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Churchill Downs during the 2nd quarter worth approximately $794,000. Envestnet Asset Management Inc. raised its holdings in Churchill Downs by 46.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 266,137 shares of the company’s stock worth $37,153,000 after buying an additional 84,420 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Churchill Downs by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after buying an additional 57,892 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Churchill Downs Stock Performance

Shares of CHDN stock opened at $128.20 on Tuesday. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.84 and a beta of 0.96. The company has a 50-day simple moving average of $136.90 and a 200 day simple moving average of $137.90. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

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 company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, sell-side analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were 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 was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.29%.

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.