Xponance Inc. Acquires 412 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Xponance Inc. raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,345 shares of the company’s stock after buying an additional 412 shares during the period. Xponance Inc.’s holdings in Churchill Downs were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs in the third quarter valued at $27,000. Fortitude Family Office LLC lifted its stake in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs during the fourth quarter valued at about $55,000. Finally, R Squared Ltd bought a new position in shares of Churchill Downs during the fourth quarter valued at about $55,000. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Churchill Downs Stock Performance

NASDAQ CHDN opened at $112.10 on Friday. The company has a market capitalization of $8.24 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company has a 50-day simple moving average of $119.19 and a 200 day simple moving average of $131.23. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted 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 business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, research analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Churchill Downs’s payout ratio is 7.04%.

Churchill Downs declared that its board has authorized a stock repurchase program on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.