Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 53.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 10,659 shares of the company’s stock after selling 12,174 shares during the quarter. GSA Capital Partners LLP’s holdings in Churchill Downs were worth $1,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its stake in Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after acquiring an additional 99 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after acquiring an additional 105 shares in the last quarter. Arizona State Retirement System lifted its stake in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after purchasing an additional 114 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after purchasing an additional 116 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $141.54 on Thursday. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.91 and a beta of 0.96. The business has a 50 day simple moving average of $138.94 and a 200 day simple moving average of $137.64.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 6.92%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CHDN shares. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company lifted their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Mizuho reduced their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.