Two Sigma Securities LLC Makes New Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Two Sigma Securities LLC bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,293 shares of the company’s stock, valued at approximately $306,000.

Several other large investors also recently added to or reduced their stakes in CHDN. Vanguard Group Inc. grew its position in shares of Churchill Downs by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock valued at $909,183,000 after purchasing an additional 107,737 shares during the last quarter. FMR LLC grew its position in shares of Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after purchasing an additional 214,694 shares during the last quarter. Boston Partners grew its position in shares of Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Churchill Downs by 5.4% in the fourth 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Churchill Downs by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company’s stock valued at $174,917,000 after purchasing an additional 10,018 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Up 1.2 %

Shares of CHDN opened at $89.37 on Tuesday. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 2.95 and a beta of 0.86. 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 Incorporated has a 12 month low of $85.58 and a 12 month high of $150.21. The company has a 50-day moving average price of $107.76 and a two-hundred day moving average price of $124.51.

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

Churchill Downs declared that its board has initiated a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Churchill Downs Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.12%.

Wall Street Analysts Forecast Growth

CHDN has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company lowered their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $157.00 price target on shares of Churchill Downs in a research report on Thursday, April 24th. Truist Financial decreased their target price on Churchill Downs from $162.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $144.80.

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.