Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 62.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,120 shares of the company’s stock after selling 57,835 shares during the period. Assenagon Asset Management S.A.’s holdings in Churchill Downs were worth $4,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winslow Asset Management Inc. grew its holdings in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after acquiring an additional 90 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after buying an additional 90 shares during the last quarter. Commerce Bank grew its position in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after buying an additional 90 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Churchill Downs by 4.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock valued at $356,000 after buying an additional 116 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Churchill Downs by 7.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock valued at $308,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Up 1.1 %

Shares of NASDAQ:CHDN opened at $126.00 on Tuesday. The stock has a market cap of $9.26 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.97 and a beta of 0.96. The firm has a fifty day moving average price of $135.19 and a 200 day moving average price of $137.45. 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 Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter last year, the business earned $0.87 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that Churchill Downs Incorporated will post 5.84 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.47%.

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.