MetLife Investment Management LLC Has $5.55 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

MetLife Investment Management LLC increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,051 shares of the company’s stock after acquiring an additional 2,548 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Churchill Downs worth $5,551,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CHDN. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Churchill Downs during the third quarter worth approximately $1,368,000. Blueshift Asset Management LLC raised its holdings in Churchill Downs by 116.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 6,000 shares of the company’s stock valued at $811,000 after acquiring an additional 3,232 shares in the last quarter. Bridgewater Associates LP bought a new stake in shares of Churchill Downs during the 3rd quarter valued at $1,331,000. Soros Capital Management LLC grew its holdings in shares of Churchill Downs by 23.7% during the 3rd quarter. Soros Capital Management LLC now owns 4,619 shares of the company’s stock worth $625,000 after purchasing an additional 884 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Churchill Downs by 298.8% in the third quarter. BNP Paribas Financial Markets now owns 18,665 shares of the company’s stock worth $2,524,000 after purchasing an additional 13,985 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $142.11 on Friday. The firm’s fifty day moving average price is $139.18 and its two-hundred day moving average price is $138.11. 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 Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock has a market cap of $10.45 billion, a PE ratio of 25.89, a PEG ratio of 3.88 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last released 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 company had revenue of $628.50 million for 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. On average, equities analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 6.92%.

Analysts Set New Price Targets

Several research firms recently weighed in on CHDN. Wells Fargo & Company upped 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. 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. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

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.