GAMMA Investing LLC Increases Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

GAMMA Investing LLC grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,045 shares of the company’s stock after buying an additional 171 shares during the period. GAMMA Investing LLC’s holdings in Churchill Downs were worth $140,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Churchill Downs by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after acquiring an additional 12,226 shares during the period. Retirement Systems of Alabama increased its stake in Churchill Downs by 3.8% in the third quarter. Retirement Systems of Alabama now owns 180,569 shares of the company’s stock valued at $24,415,000 after purchasing an additional 6,626 shares during the period. Franklin Resources Inc. raised its holdings in shares of Churchill Downs by 6.6% in the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company’s stock valued at $27,338,000 after buying an additional 12,156 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Churchill Downs by 3.0% during the third quarter. Synovus Financial Corp now owns 10,381 shares of the company’s stock worth $1,404,000 after buying an additional 303 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Churchill Downs by 295.2% during the third quarter. Tidal Investments LLC now owns 6,988 shares of the company’s stock worth $945,000 after buying an additional 5,220 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CHDN. Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, December 19th. Wells Fargo & Company increased their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Mizuho reduced their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Down 1.3 %

Shares of NASDAQ CHDN opened at $129.07 on Friday. 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 capitalization of $9.49 billion, a PE ratio of 23.51, a P/E/G ratio of 3.84 and a beta of 0.96. The firm has a fifty day moving average of $137.32 and a 200-day moving average of $138.10. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

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

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. The ex-dividend date of this dividend was Friday, December 6th. This is an increase 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 currently 7.29%.

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.