Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 10.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,773 shares of the company’s stock after buying an additional 363 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Churchill Downs were worth $504,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC increased its holdings in Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd acquired a new stake in shares of Churchill Downs in the 4th quarter worth approximately $55,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CHDN. Macquarie decreased their target price on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Jefferies Financial Group reduced their price target on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Mizuho cut their price objective on Churchill Downs from $148.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $144.80.

Churchill Downs Price Performance

CHDN stock opened at $91.42 on Wednesday. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The stock’s fifty day simple moving average is $107.21 and its 200-day simple moving average is $124.28. Churchill Downs Incorporated has a 52-week low of $85.58 and a 52-week high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $642.60 million during the quarter, compared to analysts’ expectations of $649.68 million. During the same quarter last year, the firm earned $1.13 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its Board of Directors has authorized a stock repurchase program on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.12%.

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.