Rep. James Comer Buys Churchill Downs Incorporated (NASDAQ:CHDN) Stock

Representative James Comer (R-Kentucky) recently bought shares of Churchill Downs Incorporated (NASDAQ:CHDN). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Churchill Downs stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

Churchill Downs Trading Up 0.6 %

Shares of CHDN opened at $128.95 on Wednesday. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market capitalization of $9.48 billion, a P/E ratio of 23.49, a PEG ratio of 3.84 and a beta of 0.96. The firm’s 50-day moving average is $136.90 and its two-hundred day moving average is $137.90.

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, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the prior year, the firm posted $0.87 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 7.29%.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently modified their holdings of CHDN. Commonwealth Equity Services LLC lifted its stake in shares of Churchill Downs by 7.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock worth $308,000 after purchasing an additional 162 shares during the period. Victory Capital Management Inc. lifted its position in Churchill Downs by 7.7% during the second quarter. Victory Capital Management Inc. now owns 150,895 shares of the company’s stock worth $21,065,000 after buying an additional 10,834 shares during the period. Choreo LLC boosted its stake in Churchill Downs by 30.2% in the 2nd quarter. Choreo LLC now owns 2,611 shares of the company’s stock worth $362,000 after buying an additional 605 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Churchill Downs in the 2nd quarter valued at about $125,418,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Churchill Downs during the 2nd quarter valued at about $794,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHDN. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, December 19th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho dropped their price objective 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. Finally, Wells Fargo & Company upped 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $160.88.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

Churchill Downs Company 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.