Cerity Partners LLC Acquires 4,095 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Cerity Partners LLC increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,787 shares of the company’s stock after purchasing an additional 4,095 shares during the period. Cerity Partners LLC owned approximately 0.12% of Churchill Downs worth $12,411,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the 2nd quarter valued at about $42,000. CWM LLC grew its holdings in 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. raised its position 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 during the period. Bank & Trust Co acquired a new stake in shares of Churchill Downs in the second quarter worth $84,000. Finally, GAMMA Investing LLC boosted 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 buying an additional 257 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHDN has been the topic of several recent analyst reports. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company increased 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 reaffirmed a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Get Our Latest Research Report on Churchill Downs

Churchill Downs Stock Down 0.0 %

Shares of CHDN stock opened at $141.83 on Tuesday. The stock has a market cap of $10.42 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 3.93 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. The stock has a fifty day moving average price of $139.07 and a 200 day moving average price of $138.02. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21.

Churchill Downs (NASDAQ:CHDNGet Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. Analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The business 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 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 currently 6.92%.

About Churchill Downs

(Free Report)

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.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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