Churchill Downs, Incorporated $CHDN Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 74.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,642 shares of the company’s stock after selling 13,364 shares during the quarter. AlphaQuest LLC’s holdings in Churchill Downs were worth $469,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. JLB & Associates Inc. raised its holdings in Churchill Downs by 3.8% in the second quarter. JLB & Associates Inc. now owns 2,867 shares of the company’s stock valued at $290,000 after acquiring an additional 105 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Churchill Downs by 4.2% in the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock valued at $360,000 after acquiring an additional 130 shares in the last quarter. Aristides Capital LLC raised its holdings in Churchill Downs by 5.7% in the first quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock valued at $273,000 after acquiring an additional 132 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Churchill Downs by 0.3% in the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company’s stock valued at $4,925,000 after acquiring an additional 138 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Churchill Downs by 2.8% in the first quarter. Bessemer Group Inc. now owns 6,348 shares of the company’s stock valued at $705,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN opened at $99.60 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. The firm has a market cap of $6.95 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. The company’s 50 day simple moving average is $97.45 and its 200-day simple moving average is $99.28. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $671.43 million. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. As a group, equities analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. This represents a dividend yield of 46.0%. This is a boost from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. Churchill Downs’s payout ratio is 7.45%.

Analyst Upgrades and Downgrades

CHDN has been the topic of several analyst reports. Truist Financial reduced their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Macquarie reiterated an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Stifel Nicolaus increased their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Barclays increased their price target on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.60.

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.