Eagle Asset Management Inc. Has $1.49 Million Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Eagle Asset Management Inc. cut its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 28.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,276 shares of the company’s stock after selling 4,075 shares during the quarter. Eagle Asset Management Inc.’s holdings in Churchill Downs were worth $1,493,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Winslow Asset Management Inc. lifted its holdings in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the last quarter. Venturi Wealth Management LLC raised its stake 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 acquiring an additional 90 shares during the last quarter. Commerce Bank boosted its holdings in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Churchill Downs by 13.8% in 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 in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Price Performance

Shares of CHDN stock opened at $141.83 on Tuesday. The firm’s 50 day moving average price is $139.07 and its two-hundred day moving average price is $138.02. The stock has a market cap of $10.42 billion, a PE ratio of 25.83, a PEG ratio of 3.93 and a beta of 0.96. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The business 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 firm’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. As a group, analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a $0.409 dividend. The ex-dividend date of this dividend 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 is 6.92%.

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.