Citigroup Inc. Purchases 6,043 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Citigroup Inc. increased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 25.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,891 shares of the company’s stock after purchasing an additional 6,043 shares during the quarter. Citigroup Inc.’s holdings in Churchill Downs were worth $4,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CHDN. B. Riley Wealth Advisors Inc. bought a new stake in Churchill Downs during the 1st quarter valued at $235,000. GAMMA Investing LLC boosted its position in shares of Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Churchill Downs by 24.1% in the 2nd quarter. Park Avenue Securities LLC now owns 10,418 shares of the company’s stock worth $1,454,000 after purchasing an additional 2,024 shares in the last quarter. CWM LLC boosted its position in shares of Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Churchill Downs in the 2nd quarter worth $1,000,000. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHDN. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho reduced their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial reiterated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Trading Down 1.8 %

Shares of Churchill Downs stock opened at $140.26 on Wednesday. The stock has a market cap of $10.31 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.95 and a beta of 0.95. The stock’s 50 day simple moving average is $139.29 and its 200-day simple moving average is $138.22. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm 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%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. Analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.409 dividend. 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. This represents a yield of 0.29%. Churchill Downs’s payout ratio is presently 6.92%.

Churchill Downs 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.