Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 294.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,598 shares of the company’s stock after acquiring an additional 9,403 shares during the quarter. Quantinno Capital Management LP’s holdings in Churchill Downs were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Churchill Downs in the second quarter worth $42,000. CWM LLC raised its position 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 purchasing an additional 118 shares during the period. UMB Bank n.a. lifted its stake in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after purchasing an additional 255 shares in the last quarter. Venturi Wealth Management LLC boosted its position 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 worth $104,000 after buying an additional 90 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Churchill Downs in the second quarter valued at about $112,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN opened at $138.63 on Thursday. The stock has a market capitalization of $10.19 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 3.85 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 business’s fifty day moving average price is $140.04 and its 200 day moving average price is $138.44. 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 issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.87 earnings per share. Equities research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CHDN shares. Wells Fargo & Company raised their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reiterated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

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.