GSA Capital Partners LLP Trims Position in Churchill Downs Incorporated (NASDAQ:CHDN)

GSA Capital Partners LLP lowered its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 53.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,659 shares of the company’s stock after selling 12,174 shares during the period. GSA Capital Partners LLP’s holdings in Churchill Downs were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. WCM Investment Management LLC purchased a new stake in Churchill Downs in the 3rd quarter valued at about $15,231,000. Versor Investments LP acquired a new stake in shares of Churchill Downs in the third quarter worth approximately $473,000. Venturi Wealth Management LLC grew its holdings in Churchill Downs by 13.3% in the third 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 period. Atria Investments Inc increased its position in Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after purchasing an additional 224 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its stake in Churchill Downs by 110.0% during the third quarter. Applied Finance Capital Management LLC now owns 3,761 shares of the company’s stock worth $509,000 after purchasing an additional 1,970 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Up 0.2 %

Shares of NASDAQ:CHDN opened at $141.54 on Thursday. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.91 and a beta of 0.96. The company has a 50 day moving average of $138.94 and a two-hundred day moving average of $137.64. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share 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 business had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same period last year, the business earned $0.87 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is 6.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Truist Financial restated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Mizuho reduced their price target on shares of 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.