Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 22.9% during the fourth quarter, Holdings Channel reports. The fund owned 434,188 shares of the company’s stock after purchasing an additional 81,013 shares during the quarter. GW&K Investment Management LLC’s holdings in Churchill Downs were worth $57,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHDN. Westfield Capital Management Co. LP boosted its stake in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Churchill Downs during the third quarter valued at approximately $516,000. Truist Financial Corp boosted its position in Churchill Downs by 22.1% during the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock worth $3,958,000 after acquiring an additional 5,372 shares during the last quarter. Atria Investments Inc grew its stake in Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after acquiring an additional 224 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Churchill Downs by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after acquiring an additional 37,679 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho decreased their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Stifel Nicolaus cut their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $117.27 on Friday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The firm has a market capitalization of $8.62 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.95 and a beta of 0.95. The business’s 50-day simple moving average is $125.58 and its 200-day simple moving average is $134.08.

Churchill Downs (NASDAQ:CHDN) last announced 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 net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 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.