Segall Bryant & Hamill LLC Increases Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Segall Bryant & Hamill LLC raised its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,482 shares of the company’s stock after purchasing an additional 22,124 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.29% of Churchill Downs worth $28,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHDN. Commerce Bank raised its holdings in shares of Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Arizona State Retirement System boosted its stake in shares of Churchill Downs by 0.6% in the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock valued at $2,559,000 after purchasing an additional 116 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Churchill Downs by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock valued at $301,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Churchill Downs stock opened at $113.73 on Tuesday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month high of $150.21. The company has a fifty day moving average price of $118.90 and a two-hundred day moving average price of $130.97. The company has a market cap of $8.36 billion, a PE ratio of 20.02, a P/E/G ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Churchill Downs’s payout ratio is 7.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Stifel Nicolaus cut their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

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.