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

Churchill Downs Incorporated (NASDAQ:CHDN) saw a significant growth in short interest during the month of 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 short-interest ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

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

Churchill Downs Stock Down 0.4 %

Shares of NASDAQ CHDN opened at $123.09 on Tuesday. The stock has a market cap of $9.05 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21. The business has a 50-day moving average price of $132.06 and a 200 day moving average price of $136.32.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a $0.409 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is 7.29%.

Institutional Trading of Churchill Downs

A number of large investors have recently made changes to their positions in CHDN. Winslow Asset Management Inc. lifted its position in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after acquiring an additional 90 shares during the period. Venturi Wealth Management LLC lifted its position in Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after acquiring an additional 90 shares during the period. Commerce Bank lifted its position in Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System lifted its position in Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after acquiring an additional 100 shares during the period. Finally, Blue Trust Inc. lifted its position in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

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.