Blueshift Asset Management LLC Acquires 3,232 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Blueshift Asset Management LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 116.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,000 shares of the company’s stock after buying an additional 3,232 shares during the period. Blueshift Asset Management LLC’s holdings in Churchill Downs were worth $811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kimelman & Baird LLC purchased a new position in Churchill Downs during the 2nd quarter valued at $42,000. CWM LLC raised its stake in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after buying an additional 118 shares in the last quarter. UMB Bank n.a. lifted its holdings in 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 buying an additional 255 shares during the period. Bank & Trust Co bought a new stake in Churchill Downs during the 2nd quarter valued at approximately $84,000. Finally, GAMMA Investing LLC grew its holdings in shares of Churchill Downs by 72.4% during the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after acquiring an additional 257 shares during the period. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CHDN shares. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. Finally, Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Up 0.4 %

Shares of NASDAQ CHDN opened at $140.22 on Thursday. The firm’s 50 day moving average price is $139.07 and its 200-day moving average price is $138.03. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. 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 company has a market cap of $10.31 billion, a PE ratio of 25.54, a P/E/G ratio of 3.93 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 45.48% and a net margin of 15.45%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. On average, equities research analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal 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 given a $0.409 dividend. This is a positive change 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 payout ratio is 6.92%.

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.