Citigroup Inc. Boosts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Citigroup Inc. lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 25.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,891 shares of the company’s stock after acquiring an additional 6,043 shares during the quarter. Citigroup Inc.’s holdings in Churchill Downs were worth $4,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CHDN. B. Riley Wealth Advisors Inc. acquired a new position in shares of Churchill Downs during the first quarter worth $235,000. GAMMA Investing LLC grew its stake in shares of Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Churchill Downs by 24.1% in the second quarter. Park Avenue Securities LLC now owns 10,418 shares of the company’s stock valued at $1,454,000 after acquiring an additional 2,024 shares in the last quarter. CWM LLC boosted its stake in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 118 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Churchill Downs in the second quarter valued at $1,000,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho decreased their price objective 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. Wells Fargo & Company upped their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reissued a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. 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 has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Down 1.8 %

CHDN stock opened at $140.26 on Wednesday. The company’s 50 day simple moving average is $139.29 and its 200-day simple moving average is $138.22. The firm has a market capitalization of $10.31 billion, a PE ratio of 25.55, a P/E/G ratio of 3.95 and a beta of 0.95. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating 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 net margin of 15.45% and a return on equity of 45.48%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. Equities analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.409 per share. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 6.92%.

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.