Janus Henderson Group PLC Has $72.90 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Janus Henderson Group PLC grew its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 20.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 545,912 shares of the company’s stock after buying an additional 94,351 shares during the period. Janus Henderson Group PLC’s holdings in Churchill Downs were worth $72,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Churchill Downs by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after buying an additional 100 shares during the period. Utah Retirement Systems grew its holdings in shares of Churchill Downs by 2.7% in the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock valued at $507,000 after buying an additional 100 shares during the period. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Arizona State Retirement System boosted its stake in Churchill Downs by 0.6% in the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock worth $2,559,000 after purchasing an additional 116 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.2%

Shares of NASDAQ:CHDN opened at $98.36 on Wednesday. The company’s 50-day moving average price is $102.87 and its two-hundred day moving average price is $121.19. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a one year low of $85.58 and a one year high of $150.21. The stock has a market capitalization of $7.10 billion, a PE ratio of 17.32, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.13 earnings per share. On average, equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Dividend Announcement

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

Churchill Downs announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CHDN shares. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group reduced their target price on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, April 25th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Finally, Barclays reduced their target price on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Activity

In other news, Director R Alex Rankin bought 2,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $92.65 per share, with a total value of $185,300.00. Following the acquisition, the director now owns 99,012 shares in the company, valued at $9,173,461.80. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas C. Grissom bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the acquisition, the director now owns 38,869 shares in the company, valued at $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 insiders.

Churchill Downs Company 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.