Avior Wealth Management LLC Boosts Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Avior Wealth Management LLC increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 15.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,504 shares of the company’s stock after buying an additional 344 shares during the quarter. Avior Wealth Management LLC’s holdings in Churchill Downs were worth $334,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aigen Investment Management LP purchased a new position in Churchill Downs during the 3rd quarter valued at about $516,000. Westfield Capital Management Co. LP grew its stake in Churchill Downs by 100.0% during the third 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 in the last quarter. Atria Investments Inc increased its holdings in Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after acquiring an additional 224 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Churchill Downs by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Churchill Downs by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after purchasing an additional 12,226 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

CHDN stock opened at $125.02 on Monday. The firm’s fifty day moving average is $133.98 and its 200 day moving average is $137.07. 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 Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. The firm has a market cap of $9.19 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.94 and a beta of 0.96.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Analyst Ratings Changes

CHDN has been the topic of several research analyst reports. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho cut their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company increased their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price 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.