Exchange Traded Concepts LLC Purchases 1,454 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Exchange Traded Concepts LLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,159 shares of the company’s stock after purchasing an additional 1,454 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Churchill Downs were worth $4,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $27,000. Fortitude Family Office LLC raised its holdings in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Churchill Downs during the 2nd quarter valued at $42,000. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth $55,000. Finally, UMB Bank n.a. increased its position in shares of Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after purchasing an additional 255 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $125.02 on Friday. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. 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 business’s fifty day moving average is $133.98 and its 200 day moving average is $137.08.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share 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 for the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the previous year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Churchill Downs Incorporated will post 5.84 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is presently 7.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho reduced their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial restated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

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.