Churchill Downs Incorporated (NASDAQ:CHDN) Stock Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) by 70.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,407 shares of the company’s stock after selling 7,934 shares during the quarter. SG Americas Securities LLC’s holdings in Churchill Downs were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in CHDN. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Churchill Downs by 16.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock valued at $996,000 after purchasing an additional 631 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Churchill Downs by 78.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock valued at $152,000 after purchasing an additional 300 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Churchill Downs by 24.8% during the first quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock valued at $4,845,000 after purchasing an additional 4,345 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Churchill Downs by 2.2% during the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock valued at $749,830,000 after purchasing an additional 73,505 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Churchill Downs by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock valued at $4,389,000 after purchasing an additional 1,467 shares during the last quarter. 72.61% of the stock is owned by institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $243.12 on Monday. The company’s fifty day moving average is $219.48 and its two-hundred day moving average is $209.11. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 5.18. Churchill Downs Incorporated has a 12-month low of $172.75 and a 12-month high of $249.33. The company has a market cap of $9.09 billion, a P/E ratio of 19.50 and a beta of 1.10.

Churchill Downs (NASDAQ:CHDN – Get Rating) last announced its earnings results on Wednesday, October 26th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.32. Churchill Downs had a net margin of 28.43% and a return on equity of 66.95%. The company had revenue of $383.10 million for the quarter, compared to the consensus estimate of $396.83 million. Equities analysts expect that Churchill Downs Incorporated will post 8.41 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were paid a $0.714 dividend. The ex-dividend date of this dividend was Thursday, December 1st. This is an increase from Churchill Downs’s previous annual dividend of $0.67. This represents a dividend yield of 0.36%. Churchill Downs’s dividend payout ratio is 5.69%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CHDN shares. Wells Fargo & Company lowered their target price on Churchill Downs from $268.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, December 14th. Susquehanna boosted their price objective on Churchill Downs from $250.00 to $280.00 and gave the stock a “positive” rating in a research report on Friday. JMP Securities initiated coverage on Churchill Downs in a research report on Tuesday, January 17th. They issued an “outperform” rating and a $273.00 target price for the company. StockNews.com initiated coverage on Churchill Downs in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research report on Thursday, December 8th. They set a “neutral” rating and a $243.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.20.

Churchill Downs Profile

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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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.