Impax Asset Management Group plc Takes Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Impax Asset Management Group plc purchased a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,054 shares of the company’s stock, valued at approximately $675,000.

A number of other large investors also recently modified their holdings of CHDN. Westfield Capital Management Co. LP lifted 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 acquiring an additional 381,754 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Churchill Downs in the third quarter valued at $18,368,000. State Street Corp increased its holdings in Churchill Downs by 5.8% in the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after purchasing an additional 114,018 shares during the period. WCM Investment Management LLC acquired a new stake in Churchill Downs in the third quarter valued at $15,231,000. Finally, Geode Capital Management LLC increased its holdings in Churchill Downs by 8.1% in the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after purchasing an additional 96,910 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company decreased their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Mizuho decreased their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $114.28 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The business has a 50-day moving average price of $126.18 and a two-hundred day moving average price of $134.33. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a market cap of $8.41 billion, a P/E ratio of 20.12, a PEG ratio of 2.95 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. As a group, analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.04%.

Churchill Downs Company 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.