Essex LLC Has $331,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Essex LLC lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 10.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,477 shares of the company’s stock after selling 290 shares during the quarter. Essex LLC’s holdings in Churchill Downs were worth $331,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CHDN. Aigen Investment Management LP acquired a new position in Churchill Downs during the 3rd quarter worth approximately $516,000. Westfield Capital Management Co. LP lifted its position in 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 acquiring an additional 381,754 shares in the last quarter. Atria Investments Inc boosted its stake in Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after purchasing an additional 224 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $122.01 on Friday. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The company’s 50 day moving average is $130.62 and its 200-day moving average is $135.84. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market cap of $8.97 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.47%.

Analyst Upgrades and Downgrades

CHDN has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho reduced their price objective 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. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped 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, JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.88.

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.