Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 210,482 shares of the company’s stock after purchasing an additional 22,124 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Churchill Downs were worth $28,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CHDN. Blue Trust Inc. increased its position in Churchill Downs by 127.2% in the 4th 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 bought a new stake in shares of Churchill Downs during the third quarter valued at about $27,000. Fortitude Family Office LLC lifted 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 worth $34,000 after purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC bought a new position in Churchill Downs in the 4th quarter valued at about $55,000. Finally, R Squared Ltd acquired a new position in Churchill Downs during the 4th quarter valued at about $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on CHDN shares. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Mizuho cut their target price 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. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Stock Up 1.5 %

Shares of Churchill Downs stock opened at $113.73 on Tuesday. Churchill Downs Incorporated has a 12-month low of $105.18 and a 12-month high of $150.21. The firm has a market capitalization of $8.36 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The stock’s fifty day moving average is $118.90 and its 200-day moving average is $130.97.

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

Churchill Downs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Churchill Downs announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Churchill Downs 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.