Arrowstreet Capital Limited Partnership Increases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Arrowstreet Capital Limited Partnership increased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 514,678 shares of the company’s stock after buying an additional 4,896 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.70% of Churchill Downs worth $68,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CHDN. Louisiana State Employees Retirement System boosted 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 purchasing an additional 100 shares during the period. Blue Trust Inc. grew its stake in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. Arizona State Retirement System increased its position in shares of Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock worth $2,559,000 after acquiring an additional 116 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Churchill Downs by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after acquiring an additional 120 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its holdings in Churchill Downs by 7.7% in the fourth quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock valued at $251,000 after purchasing an additional 135 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Churchill Downs Stock Down 0.1 %

Shares of Churchill Downs stock opened at $111.07 on Tuesday. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The business’s 50 day simple moving average is $117.47 and its 200-day simple moving average is $130.01.

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

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

Churchill Downs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

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.