Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,497 shares of the company’s stock after acquiring an additional 755 shares during the quarter. Global Retirement Partners LLC’s holdings in Churchill Downs were worth $467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of Churchill Downs in the 3rd quarter worth $516,000. Westfield Capital Management Co. LP raised its holdings in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares during the period. Atria Investments Inc lifted its stake in shares of Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after purchasing an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Churchill Downs by 6.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

CHDN stock opened at $116.92 on Monday. The stock’s 50 day moving average is $126.93 and its two-hundred day moving average is $134.61. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a market capitalization of $8.59 billion, a PE ratio of 20.58, a P/E/G ratio of 2.95 and a beta of 0.95. 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 released its 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 return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a $0.409 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Churchill Downs has a consensus 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.