Winebrenner Capital Management LLC Raises Stake in Churchill Downs, Incorporated $CHDN

Winebrenner Capital Management LLC boosted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,538 shares of the company’s stock after purchasing an additional 280 shares during the period. Winebrenner Capital Management LLC’s holdings in Churchill Downs were worth $458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JLB & Associates Inc. boosted its holdings in shares of 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. Bessemer Group Inc. raised its position in Churchill Downs by 2.0% during the second quarter. Bessemer Group Inc. now owns 6,474 shares of the company’s stock worth $654,000 after acquiring an additional 126 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in Churchill Downs by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock worth $360,000 after acquiring an additional 130 shares during the last quarter. Aristides Capital LLC raised its position in Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock worth $273,000 after acquiring an additional 132 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of 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 buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHDN. Truist Financial cut their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. JPMorgan Chase & Co. decreased their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Stifel Nicolaus boosted their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Susquehanna restated a “positive” rating and issued a $124.00 target price (down from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Finally, Barclays upped their target price 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $137.60.

Churchill Downs Stock Down 3.4%

Shares of NASDAQ:CHDN opened at $99.60 on Wednesday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The company’s fifty day moving average is $97.45 and its two-hundred day moving average is $99.28. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The business had revenue of $683.00 million during the quarter, compared to analyst estimates of $671.43 million. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

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

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.