Olympiad Research LP Sells 1,170 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Olympiad Research LP lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 40.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,727 shares of the company’s stock after selling 1,170 shares during the quarter. Olympiad Research LP’s holdings in Churchill Downs were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares during the period. Geode Capital Management LLC raised its holdings in Churchill Downs by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after acquiring an additional 96,910 shares during the period. Jennison Associates LLC raised its holdings in Churchill Downs by 5.6% during the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock valued at $133,594,000 after acquiring an additional 53,334 shares during the period. Westfield Capital Management Co. LP raised its holdings in Churchill Downs by 100.0% during 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 period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Churchill Downs by 6.8% during 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 period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.8 %

Shares of NASDAQ:CHDN opened at $116.92 on Monday. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The firm has a fifty day moving average of $126.93 and a 200 day moving average of $134.61. The firm has a market capitalization of $8.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.95. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

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

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a $0.409 dividend. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs’s payout ratio is 7.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. Mizuho lowered their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus lowered their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.38.

About Churchill Downs

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.