Fisher Asset Management LLC Has $203,000 Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Fisher Asset Management LLC lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 50.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the company’s stock after selling 1,537 shares during the period. Fisher Asset Management LLC’s holdings in Churchill Downs were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Westfield Capital Management Co. LP lifted its position in shares of Churchill Downs by 100.0% in the 3rd 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. Centaurus Financial Inc. raised its stake in Churchill Downs by 28.2% during the 3rd quarter. Centaurus Financial Inc. now owns 3,353 shares of the company’s stock valued at $453,000 after purchasing an additional 738 shares during the period. Cerity Partners LLC lifted its holdings in shares of Churchill Downs by 4.7% in the third quarter. Cerity Partners LLC now owns 91,787 shares of the company’s stock valued at $12,411,000 after purchasing an additional 4,095 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Churchill Downs in the third quarter worth $406,000. Finally, Citigroup Inc. grew its holdings in shares of Churchill Downs by 25.3% during the third quarter. Citigroup Inc. now owns 29,891 shares of the company’s stock valued at $4,042,000 after buying an additional 6,043 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

CHDN stock opened at $142.11 on Monday. The firm has a 50 day moving average of $139.18 and a two-hundred day moving average of $138.14. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 3.94 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data 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 during 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 for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued 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 dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is currently 7.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CHDN shares. Truist Financial reissued a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Monday, October 14th. One 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 company presently 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.