Oppenheimer Asset Management Inc. Has $1.01 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Oppenheimer Asset Management Inc. grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,532 shares of the company’s stock after purchasing an additional 1,882 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Churchill Downs were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new position in Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd acquired a new position in Churchill Downs during the 4th quarter worth approximately $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CHDN shares. Stifel Nicolaus dropped their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho lowered their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Performance

CHDN stock opened at $112.70 on Wednesday. The firm has a market cap of $8.29 billion, a PE ratio of 19.84, a P/E/G ratio of 2.95 and a beta of 0.95. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a 50 day moving average of $124.96 and a 200-day moving average of $133.77. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) 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 the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, sell-side analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio is 7.04%.

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.