Versor Investments LP Takes $473,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Versor Investments LP acquired a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,500 shares of the company’s stock, valued at approximately $473,000.

Several other hedge funds have also recently bought and sold shares of the business. Venturi Wealth Management LLC raised its position in shares of Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares during the period. First Horizon Advisors Inc. lifted its position in Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after acquiring an additional 105 shares during the period. Arizona State Retirement System boosted its holdings in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock valued at $2,592,000 after acquiring an additional 114 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock valued at $356,000 after purchasing an additional 116 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHDN. Macquarie raised their target price on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Mizuho lowered their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Finally, Stifel Nicolaus upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $140.91 on Friday. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. 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 stock has a market cap of $10.36 billion, a P/E ratio of 25.67, a PEG ratio of 3.91 and a beta of 0.96. The company’s 50-day simple moving average is $138.99 and its 200 day simple moving average is $137.66.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company 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%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. As a group, research 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 issued a dividend of $0.409 per share. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 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.