Dynamic Technology Lab Private Ltd Makes New Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Dynamic Technology Lab Private Ltd acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,066 shares of the company’s stock, valued at approximately $279,000.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Churchill Downs in the 2nd quarter worth $125,418,000. Westfield Capital Management Co. LP increased its stake in shares of Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Churchill Downs by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after purchasing an additional 3,608 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Churchill Downs by 6.8% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Churchill Downs by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after buying an additional 57,892 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Trading Up 1.3 %

Shares of CHDN stock opened at $142.11 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company’s 50-day moving average price is $139.18 and its 200-day moving average price is $138.14. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.94 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company 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%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. As a group, equities analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm 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. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s dividend payout ratio is presently 7.29%.

Analyst Ratings Changes

A number of equities analysts have commented on CHDN shares. Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $155.00 in a research note on Monday, August 12th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target 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.