Emerald Advisers LLC Has $17.12 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Emerald Advisers LLC reduced its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 128,200 shares of the company’s stock after selling 1,644 shares during the quarter. Emerald Advisers LLC’s holdings in Churchill Downs were worth $17,120,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Commerce Bank increased its stake in Churchill Downs by 1.8% in the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after purchasing an additional 90 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Churchill Downs by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. increased its stake in 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 purchasing an additional 103 shares in the last quarter. Arizona State Retirement System increased its position in shares of Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock worth $2,559,000 after acquiring an additional 116 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after acquiring an additional 120 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHDN has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Mizuho lowered their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Up 0.1 %

Churchill Downs stock opened at $112.10 on Friday. The company has a market cap of $8.24 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 1-year low of $105.18 and a 1-year high of $150.21. The company has a fifty day simple moving average of $119.19 and a 200 day simple moving average of $131.19. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Dividend Announcement

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

Churchill Downs announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.