WCM Investment Management LLC Buys 25,197 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

WCM Investment Management LLC lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 22.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 138,841 shares of the company’s stock after buying an additional 25,197 shares during the period. WCM Investment Management LLC’s holdings in Churchill Downs were worth $18,627,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Churchill Downs during the second quarter valued at $209,000. Creative Planning grew its holdings in Churchill Downs by 14.3% during the 2nd quarter. Creative Planning now owns 4,035 shares of the company’s stock valued at $563,000 after purchasing an additional 504 shares during the last quarter. GAMMA Investing LLC raised its position in Churchill Downs by 42.8% in the 3rd quarter. GAMMA Investing LLC now owns 874 shares of the company’s stock worth $118,000 after purchasing an additional 262 shares during the period. Brookstone Capital Management bought a new stake in Churchill Downs in the third quarter worth about $245,000. Finally, UMB Bank n.a. boosted its position in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after buying an additional 255 shares during the period. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHDN. Wells Fargo & Company raised their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reiterated 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 report on Wednesday, November 6th. Mizuho decreased their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Truist Financial restated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $122.01 on Friday. The firm has a 50 day moving average of $130.62 and a 200 day moving average of $135.84. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs Increases Dividend

The business also recently disclosed 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. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio is 7.47%.

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.