Hunter Associates Investment Management LLC Has $1.93 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Hunter Associates Investment Management LLC cut its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 41.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,085 shares of the company’s stock after selling 13,343 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Churchill Downs were worth $1,932,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHDN. Geneos Wealth Management Inc. increased its stake in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Churchill Downs in the first quarter valued at $29,000. Signaturefd LLC increased its stake in shares of Churchill Downs by 161.1% in the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock valued at $33,000 after buying an additional 203 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Churchill Downs by 132.2% in the second quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock valued at $47,000 after buying an additional 267 shares in the last quarter. Finally, Private Trust Co. NA increased its position in Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after purchasing an additional 330 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Churchill Downs stock opened at $99.20 on Monday. The firm has a market capitalization of $6.92 billion, a P/E ratio of 18.04, a PEG ratio of 1.84 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 business has a 50-day moving average of $97.27 and a 200-day moving average of $99.23. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

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

Churchill Downs Increases Dividend

The business 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%. The ex-dividend date is Friday, December 5th. This is an increase from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio is presently 7.82%.

Analysts Set New Price Targets

A number of brokerages recently commented on CHDN. Susquehanna reiterated a “positive” rating and issued a $124.00 price objective (down from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Mizuho lifted their price objective on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Barclays lifted their price objective on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Truist Financial lowered their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $137.60.

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.