Centerline Wealth Advisors LLC Takes $314,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Centerline Wealth Advisors LLC acquired a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,357 shares of the company’s stock, valued at approximately $314,000. Churchill Downs accounts for about 0.2% of Centerline Wealth Advisors LLC’s holdings, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. Blue Trust Inc. boosted its holdings in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Churchill Downs during the third quarter valued at approximately $27,000. Fortitude Family Office LLC grew its position in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC bought a new stake in Churchill Downs during the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs during the fourth quarter valued at approximately $55,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $123.27 on Friday. 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 Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The stock’s 50 day simple moving average is $131.02 and its two-hundred day simple moving average is $136.01. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.06 and a beta of 0.95.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were paid a $0.409 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s payout ratio is presently 7.47%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHDN. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial restated 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. Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.