Olympiad Research LP Makes New Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Olympiad Research LP purchased a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,897 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new position in Churchill Downs during the second quarter worth $42,000. Central Pacific Bank Trust Division purchased a new stake in shares of Churchill Downs in the first quarter valued at $44,000. CWM LLC grew its position in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. grew its position in shares of Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after purchasing an additional 255 shares during the period. Finally, Bank & Trust Co purchased a new stake in shares of Churchill Downs in the second quarter valued at $84,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHDN shares. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Trading Down 0.7 %

Shares of CHDN opened at $146.41 on Friday. The stock’s 50-day moving average is $138.59 and its two-hundred day moving average is $137.08. The stock has a market cap of $10.76 billion, a PE ratio of 26.67, a P/E/G ratio of 3.80 and a beta of 0.96. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is currently 6.92%.

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.