Swiss National Bank raised its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 102.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,700 shares of the company’s stock after acquiring an additional 74,100 shares during the period. Swiss National Bank’s holdings in Churchill Downs were worth $20,416,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Churchill Downs during the 2nd quarter worth about $27,000. Quent Capital LLC boosted its position in shares of Churchill Downs by 100.0% during the second quarter. Quent Capital LLC now owns 214 shares of the company’s stock valued at $30,000 after buying an additional 107 shares during the period. AlphaMark Advisors LLC bought a new position in shares of Churchill Downs during the second quarter valued at approximately $33,000. National Bank of Canada FI raised its holdings in shares of Churchill Downs by 100.0% in the second quarter. National Bank of Canada FI now owns 238 shares of the company’s stock worth $33,000 after buying an additional 119 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Churchill Downs by 96.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 258 shares of the company’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 72.88% of the company’s stock.
Wall Street Analysts Forecast Growth
CHDN has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $146.00 price objective on shares of Churchill Downs in a research report on Tuesday, October 17th. Susquehanna decreased their price objective on shares of Churchill Downs from $145.00 to $138.00 and set a “positive” rating for the company in a report on Thursday, October 19th. Capital One Financial initiated coverage on shares of Churchill Downs in a research note on Thursday, October 12th. They issued an “overweight” rating and a $144.00 target price on the stock. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Finally, Bank of America dropped their price objective on Churchill Downs from $155.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.81.
Churchill Downs Stock Performance
Shares of NASDAQ:CHDN opened at $120.75 on Monday. The firm has a 50 day moving average of $114.78 and a 200 day moving average of $127.06. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 25.64 and a beta of 1.08. Churchill Downs Incorporated has a 52 week low of $101.89 and a 52 week high of $150.45.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Churchill Downs had a return on equity of 49.33% and a net margin of 15.15%. The firm had revenue of $572.50 million during the quarter, compared to analyst estimates of $568.55 million. During the same period in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 49.4% compared to the same quarter last year. On average, sell-side analysts predict that Churchill Downs Incorporated will post 5.36 earnings per share for the current fiscal year.
Churchill Downs Increases Dividend
The company also recently disclosed an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be paid a dividend of $0.382 per share. This represents a dividend yield of 0.35%. The ex-dividend date is Thursday, November 30th. This is a positive change from Churchill Downs’s previous annual dividend of $0.36. Churchill Downs’s payout ratio is 8.07%.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.
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