Healthcare of Ontario Pension Plan Trust Fund Takes Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,116 shares of the company’s stock, valued at approximately $1,368,000.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Churchill Downs by 259.3% during the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock worth $2,772,000 after purchasing an additional 14,331 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Churchill Downs during the 3rd quarter worth $516,000. Westfield Capital Management Co. LP lifted its position in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after buying an additional 100,230 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Up 1.3 %

Shares of CHDN opened at $142.11 on Monday. The company has a market capitalization of $10.44 billion, a PE ratio of 25.89, a PEG ratio of 3.94 and a beta of 0.96. The stock’s 50-day moving average price is $139.18 and its two-hundred day moving average price is $138.14. 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 Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its 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. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is currently 7.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHDN. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $155.00 in a report on Monday, August 12th. 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 raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.