SG Americas Securities LLC Decreases Position in Churchill Downs Incorporated (NASDAQ:CHDN)

SG Americas Securities LLC cut its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 22.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,768 shares of the company’s stock after selling 501 shares during the period. SG Americas Securities LLC’s holdings in Churchill Downs were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CHDN. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs in the third quarter worth $27,000. Fortitude Family Office LLC raised 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. Eagle Bay Advisors LLC bought a new position in Churchill Downs during the 4th quarter valued at $55,000. UMB Bank n.a. grew its holdings in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Churchill Downs Stock Up 1.9 %

Shares of NASDAQ CHDN opened at $123.27 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $9.06 billion, a PE ratio of 22.45, a PEG ratio of 3.06 and a beta of 0.95. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The business has a fifty day moving average of $131.02 and a two-hundred day moving average of $136.01.

Churchill Downs Increases Dividend

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

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.