Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Up 5.8% in January

Churchill Downs Incorporated (NASDAQ:CHDN) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 1,470,000 shares, a growth of 5.8% from the December 31st total of 1,390,000 shares. Based on an average daily trading volume, of 441,500 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHDN. Truist Financial reissued a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Price Performance

Churchill Downs stock opened at $123.58 on Monday. The firm has a market cap of $9.08 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.08 and a beta of 0.96. The stock’s 50 day moving average is $132.44 and its 200 day moving average is $136.44. 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 has a one year low of $111.10 and a one year high of $150.21.

Churchill Downs Increases Dividend

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

Institutional Trading of Churchill Downs

Large investors have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in Churchill Downs during the 3rd quarter worth approximately $516,000. Westfield Capital Management Co. LP increased its holdings in shares of Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after acquiring an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Churchill Downs by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Churchill Downs by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.