Rep. James Comer Buys Churchill Downs Incorporated (NASDAQ:CHDN) Shares

Representative James Comer (R-Kentucky) recently bought shares of Churchill Downs Incorporated (NASDAQ:CHDN). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Churchill Downs stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

Churchill Downs Stock Performance

CHDN opened at $128.95 on Wednesday. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The company’s 50 day moving average is $136.90 and its 200 day moving average is $137.90. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 3.84 and a beta of 0.96. 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 (NASDAQ:CHDN) last announced its quarterly earnings data 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 company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $27,000. Fortitude Family Office LLC grew its position in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Churchill Downs in the 2nd quarter valued at about $42,000. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs in the 4th quarter worth approximately $55,000. Finally, UMB Bank n.a. raised its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHDN. Truist Financial reissued a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, December 19th. Mizuho lowered their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price target on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

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.