EULAV Asset Management Sells 26,500 Shares of Churchill Downs, Incorporated $CHDN

EULAV Asset Management lessened its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,262 shares of the company’s stock after selling 26,500 shares during the quarter. EULAV Asset Management’s holdings in Churchill Downs were worth $26,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JLB & Associates Inc. raised its position in Churchill Downs by 3.8% during the second quarter. JLB & Associates Inc. now owns 2,867 shares of the company’s stock worth $290,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Churchill Downs by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $67,000 after purchasing an additional 123 shares during the last quarter. Bessemer Group Inc. raised its holdings 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 valued at $654,000 after purchasing an additional 126 shares during the period. RPS Advisory Solutions LLC lifted its stake in Churchill Downs by 4.6% in the 2nd 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 during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Churchill Downs by 3.6% during the third quarter. Global Retirement Partners LLC now owns 4,520 shares of the company’s stock worth $438,000 after purchasing an additional 156 shares during the period. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $107.49 on Friday. The stock has a 50 day simple moving average of $109.88 and a 200 day simple moving average of $103.92. The stock has a market cap of $7.50 billion, a P/E ratio of 19.54, a PEG ratio of 1.63 and a beta of 0.68. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $128.01. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $683.00 million for 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 company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a $0.438 dividend. This represents a dividend yield of 39.0%. This is a boost from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date was Friday, December 5th. Churchill Downs’s dividend payout ratio is currently 8.00%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Susquehanna restated a “positive” rating and issued a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Barclays raised their price target on Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $155.00 price objective on shares of Churchill Downs in a report on Friday, October 24th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $135.36.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.