Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Diametric Capital LP

Diametric Capital LP boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,649 shares of the company’s stock after acquiring an additional 387 shares during the quarter. Diametric Capital LP’s holdings in Churchill Downs were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after buying an additional 107,737 shares in the last quarter. State Street Corp boosted its stake in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after acquiring an additional 114,018 shares in the last quarter. Boston Partners grew its holdings in shares of Churchill Downs by 25.6% in the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after acquiring an additional 366,283 shares during the period. Schroder Investment Management Group increased its stake in Churchill Downs by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after purchasing an additional 77,213 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Churchill Downs by 8.1% during the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after purchasing an additional 96,910 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Shares of CHDN opened at $111.07 on Tuesday. Churchill Downs Incorporated has a 1 year low of $105.18 and a 1 year high of $150.21. The company’s 50 day simple moving average is $117.47 and its 200 day simple moving average is $130.01. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. On average, sell-side analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its board has approved a share buyback plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Churchill Downs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of research analyst reports. Mizuho dropped their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.