Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,824 shares of the company’s stock after selling 853 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Churchill Downs worth $5,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GW&K Investment Management LLC raised its stake in shares of Churchill Downs by 22.9% in the 4th quarter. GW&K Investment Management LLC now owns 434,188 shares of the company’s stock valued at $57,982,000 after purchasing an additional 81,013 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Churchill Downs in the fourth quarter valued at about $1,927,000. Oppenheimer Asset Management Inc. raised its stake in Churchill Downs by 33.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,532 shares of the company’s stock valued at $1,006,000 after buying an additional 1,882 shares in the last quarter. Amalgamated Bank raised its stake in Churchill Downs by 0.5% during the fourth quarter. Amalgamated Bank now owns 35,966 shares of the company’s stock valued at $4,803,000 after buying an additional 178 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Churchill Downs by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 602,701 shares of the company’s stock worth $80,485,000 after buying an additional 13,053 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 2.1 %

Churchill Downs stock opened at $112.70 on Wednesday. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.95 and a beta of 0.95. The firm has a 50-day moving average price of $124.96 and a two-hundred day moving average price of $133.77.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data 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 business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Sell-side analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped 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, February 21st. Mizuho decreased their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut 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, February 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

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.