Tidal Investments LLC lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 295.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,988 shares of the company's stock after buying an additional 5,220 shares during the quarter. Tidal Investments LLC's holdings in Churchill Downs were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CHDN. William Blair Investment Management LLC bought a new stake in Churchill Downs in the second quarter valued at $125,418,000. Westfield Capital Management Co. LP grew its stake in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after buying an additional 381,754 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in Churchill Downs in the 3rd quarter valued at about $18,368,000. State Street Corp raised its stake in Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after buying an additional 114,018 shares during the period. Finally, WCM Investment Management LLC bought a new position in Churchill Downs in the third quarter worth approximately $15,231,000. Institutional investors own 82.59% of the company's stock.
CHDN has been the subject of several recent research reports. Truist Financial restated a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities restated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research note on Thursday. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.
Check Out Our Latest Stock Analysis on CHDN
Churchill Downs stock opened at $132.75 on Friday. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. The company's 50 day moving average price is $139.48 and its two-hundred day moving average price is $138.53. The stock has a market cap of $9.76 billion, a P/E ratio of 24.18, a P/E/G ratio of 3.84 and a beta of 0.95. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. On average, equities analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.
The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.409 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. This is a positive change from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio is presently 7.29%.
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.
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