Guggenheim Capital LLC Sells 986 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Guggenheim Capital LLC lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 20.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,837 shares of the company’s stock after selling 986 shares during the period. Guggenheim Capital LLC’s holdings in Churchill Downs were worth $512,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Churchill Downs by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after buying an additional 107,737 shares in the last quarter. FMR LLC increased its stake 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 worth $479,687,000 after acquiring an additional 214,694 shares during the period. Boston Partners lifted its holdings in 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 acquiring an additional 366,283 shares during the period. Schroder Investment Management Group lifted its stake in shares of Churchill Downs by 5.4% in the 4th 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 period. Finally, Geode Capital Management LLC boosted its stake in shares of Churchill Downs by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company’s stock worth $174,917,000 after acquiring an additional 10,018 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

CHDN has been the subject of a number of research reports. Macquarie cut their target price on shares of Churchill Downs from $172.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $157.00 price objective on shares of Churchill Downs in a research report on Thursday. Mizuho reduced their target price on Churchill Downs from $148.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial cut their price objective on Churchill Downs from $162.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Barclays decreased their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.80.

Churchill Downs Trading Up 0.4 %

CHDN stock opened at $88.35 on Friday. 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 52 week low of $85.58 and a 52 week high of $150.21. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.95 and a beta of 0.86. The business has a fifty day simple moving average of $108.37 and a 200-day simple moving average of $125.07.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $642.60 million for the quarter, compared to analysts’ expectations of $649.68 million. On average, equities research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Announces Dividend

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

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

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.