Amalgamated Bank Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank lifted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,966 shares of the company’s stock after buying an additional 178 shares during the quarter. Amalgamated Bank’s holdings in Churchill Downs were worth $4,803,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC boosted its position in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the 4th quarter worth $55,000. Finally, R Squared Ltd acquired a new position in Churchill Downs during the 4th quarter valued at about $55,000. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Mizuho lowered their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price objective 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Up 2.2 %

NASDAQ:CHDN opened at $117.27 on Friday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The company’s fifty day moving average price is $125.58 and its 200-day moving average price is $134.08. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The firm has a market capitalization of $8.62 billion, a P/E ratio of 20.65, a PEG ratio of 2.95 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. The ex-dividend date was 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 payout ratio is presently 7.04%.

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.