10,037 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Bought by Townsquare Capital LLC

Townsquare Capital LLC acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,037 shares of the company’s stock, valued at approximately $1,340,000.

A number of other hedge funds also recently made changes to their positions in the business. Fortis Capital Advisors LLC raised its position in Churchill Downs by 28.3% in the fourth quarter. Fortis Capital Advisors LLC now owns 4,570 shares of the company’s stock worth $635,000 after acquiring an additional 1,008 shares during the period. Covestor Ltd lifted its stake in Churchill Downs by 46.8% in the fourth quarter. Covestor Ltd now owns 929 shares of the company’s stock valued at $124,000 after purchasing an additional 296 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Churchill Downs by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 30,633 shares of the company’s stock valued at $4,091,000 after purchasing an additional 190 shares during the period. Bessemer Group Inc. increased its position in Churchill Downs by 9,113.4% in the fourth quarter. Bessemer Group Inc. now owns 6,173 shares of the company’s stock worth $824,000 after buying an additional 6,106 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Churchill Downs in the fourth quarter valued at $16,015,000. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CHDN shares. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, April 8th. Wells Fargo & Company cut their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Barclays began coverage on Churchill Downs in a report on Friday, April 11th. They set an “overweight” rating and a $125.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.44.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $101.36 on Friday. Churchill Downs Incorporated has a one year low of $96.67 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.95 and a beta of 0.86. The company’s fifty day moving average price is $111.28 and its 200-day moving average price is $126.70.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its board has initiated a stock repurchase plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

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.