Boston Partners Cuts Position in Churchill Downs, Incorporated $CHDN

Boston Partners lessened its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 28.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,246,072 shares of the company’s stock after selling 503,695 shares during the quarter. Boston Partners’ holdings in Churchill Downs were worth $125,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Elequin Capital LP purchased a new stake in Churchill Downs in the first quarter worth approximately $29,000. Signaturefd LLC grew its position in Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock valued at $33,000 after acquiring an additional 203 shares during the last quarter. Huntington National Bank raised its stake in shares of Churchill Downs by 534.3% during the second quarter. Huntington National Bank now owns 425 shares of the company’s stock worth $43,000 after acquiring an additional 358 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Churchill Downs by 132.2% during the second quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock worth $47,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Susquehanna restated a “positive” rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Barclays raised their price objective on Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Mizuho boosted their target price on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average price target of $137.60.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $99.43 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 company has a 50-day moving average price of $96.56 and a 200-day moving average price of $99.25. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $144.23.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $683.00 million for the quarter, compared to the consensus estimate of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.Churchill Downs’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, equities analysts anticipate 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 paid 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 of this dividend is Friday, December 5th. Churchill Downs’s payout ratio is presently 7.82%.

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.