Hsbc Holdings PLC Acquires 52,277 Shares of Churchill Downs, Incorporated $CHDN

Hsbc Holdings PLC lifted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 439.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 64,169 shares of the company’s stock after purchasing an additional 52,277 shares during the period. Hsbc Holdings PLC owned about 0.09% of Churchill Downs worth $6,465,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JLB & Associates Inc. raised its stake in Churchill Downs by 3.8% in the second quarter. JLB & Associates Inc. now owns 2,867 shares of the company’s stock worth $290,000 after buying an additional 105 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Churchill Downs by 2.0% in the 2nd quarter. Bessemer Group Inc. now owns 6,474 shares of the company’s stock worth $654,000 after acquiring an additional 126 shares in the last quarter. Aristides Capital LLC lifted its stake in shares of Churchill Downs by 5.7% during the 1st quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock worth $273,000 after purchasing an additional 132 shares during the last quarter. RPS Advisory Solutions LLC boosted its position in Churchill Downs by 4.6% during the second quarter. RPS Advisory Solutions LLC now owns 3,497 shares of the company’s stock valued at $353,000 after purchasing an additional 154 shares in the last quarter. Finally, Main Management ETF Advisors LLC boosted its position in Churchill Downs by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 10,262 shares of the company’s stock valued at $1,036,000 after purchasing an additional 168 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of CHDN opened at $113.27 on Friday. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The company’s fifty day moving average price is $99.38 and its 200-day moving average price is $100.59. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $142.85. The firm has a market capitalization of $7.90 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.00 and a beta of 0.70.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $683.00 million during the quarter, compared to analyst estimates of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. On average, equities research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a $0.438 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. This represents a yield of 39.0%. Churchill Downs’s dividend payout ratio is currently 7.45%.

Wall Street Analysts Forecast Growth

CHDN has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on shares of Churchill Downs in a report on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 target price for the company. Macquarie reissued an “outperform” rating and set a $155.00 target price on shares of Churchill Downs in a research report on Friday, October 24th. Susquehanna restated a “positive” rating and issued a $124.00 target price (down from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Barclays upped their price target on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $133.30.

Churchill Downs 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.