Atria Investments Inc Raises Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Atria Investments Inc boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,004 shares of the company’s stock after buying an additional 224 shares during the quarter. Atria Investments Inc’s holdings in Churchill Downs were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. raised its stake in shares of Churchill Downs by 259.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after buying an additional 14,331 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares during the period. Point72 Asset Management L.P. lifted its holdings in Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after purchasing an additional 100,230 shares in the last quarter. Boston Partners increased its stake in shares of Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after purchasing an additional 35,587 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Churchill Downs in the 2nd quarter valued at $794,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.0 %

NASDAQ:CHDN opened at $138.85 on Tuesday. 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 1 year low of $111.10 and a 1 year high of $150.21. The stock has a market cap of $10.21 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.85 and a beta of 0.96. The stock has a 50-day simple moving average of $139.01 and a 200-day simple moving average of $137.88.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on CHDN. Truist Financial reaffirmed 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. Macquarie boosted their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Finally, Bank of America raised 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 note on Monday, August 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.88.

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.