Interval Partners LP Purchases 2,704 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Interval Partners LP grew its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,963 shares of the company’s stock after purchasing an additional 2,704 shares during the quarter. Interval Partners LP’s holdings in Churchill Downs were worth $5,203,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in Churchill Downs by 20.9% during the fourth quarter. Janus Henderson Group PLC now owns 545,912 shares of the company’s stock worth $72,903,000 after acquiring an additional 94,351 shares during the period. Hudson Bay Capital Management LP bought a new position in Churchill Downs during the fourth quarter worth $3,719,000. Gotham Asset Management LLC increased its position in Churchill Downs by 338.3% during the fourth quarter. Gotham Asset Management LLC now owns 110,690 shares of the company’s stock worth $14,782,000 after acquiring an additional 85,438 shares during the period. Graham Capital Management L.P. increased its position in Churchill Downs by 106.9% during the fourth quarter. Graham Capital Management L.P. now owns 15,243 shares of the company’s stock worth $2,036,000 after acquiring an additional 7,875 shares during the period. Finally, Focus Partners Wealth increased its holdings in Churchill Downs by 72.3% in the 4th quarter. Focus Partners Wealth now owns 2,866 shares of the company’s stock valued at $383,000 after buying an additional 1,203 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 1.4%

Shares of NASDAQ:CHDN opened at $95.04 on Monday. Churchill Downs Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company’s fifty day moving average is $103.50 and its 200-day moving average is $121.64. The company has a market capitalization of $6.86 billion, a PE ratio of 16.73, a P/E/G ratio of 2.95 and a beta of 1.02.

Churchill Downs (NASDAQ:CHDN) last issued 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). The company had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. Equities research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. Churchill Downs’s dividend payout ratio (DPR) is 7.12%.

Churchill Downs announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Macquarie lowered their price target on shares of Churchill Downs from $172.00 to $154.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Truist Financial lowered their price target on shares of Churchill Downs from $162.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Susquehanna lowered their price target on shares of Churchill Downs from $150.00 to $136.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho lowered their price target on shares of Churchill Downs from $148.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Buying and Selling

In other Churchill Downs news, Director R Alex Rankin bought 2,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the transaction, the director now owns 99,012 shares in the company, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Grissom bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the transaction, the director now owns 38,869 shares in the company, valued at approximately $3,605,877.13. This trade represents a 34.64% increase in their position. The disclosure for this purchase can be found here. 5.34% of the stock is owned by corporate insiders.

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.