GW&K Investment Management LLC raised its stake in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,315 shares of the company’s stock after buying an additional 45,317 shares during the period. GW&K Investment Management LLC owned about 0.94% of Churchill Downs worth $46,334,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama raised its stake in Churchill Downs by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 108,019 shares of the company’s stock valued at $13,335,000 after buying an additional 305 shares during the last quarter. LPL Financial LLC purchased a new stake in Churchill Downs during the 2nd quarter valued at $780,000. North Star Investment Management Corp. purchased a new stake in Churchill Downs during the 3rd quarter valued at $185,000. Three Peaks Capital Management LLC raised its stake in Churchill Downs by 2.1% during the 3rd quarter. Three Peaks Capital Management LLC now owns 41,976 shares of the company’s stock valued at $5,182,000 after buying an additional 870 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Churchill Downs by 9.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 304,111 shares of the company’s stock worth $37,544,000 after purchasing an additional 25,385 shares in the last quarter. Institutional investors and hedge funds own 71.22% of the company’s stock.
Shares of NASDAQ:CHDN traded up $1.59 during midday trading on Friday, hitting $125.17. The company had a trading volume of 176,700 shares, compared to its average volume of 274,699. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.09 and a quick ratio of 1.09. Churchill Downs, Inc. has a 12-month low of $74.58 and a 12-month high of $135.32. The company has a fifty day moving average of $127.85 and a two-hundred day moving average of $116.26. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.53 and a beta of 1.21.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Churchill Downs had a net margin of 11.43% and a return on equity of 33.71%. The firm had revenue of $306.30 million during the quarter, compared to the consensus estimate of $299.27 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year. Research analysts expect that Churchill Downs, Inc. will post 4.03 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.581 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.54. The ex-dividend date of this dividend is Thursday, December 5th. This represents a dividend yield of 0.45%. Churchill Downs’s dividend payout ratio (DPR) is presently 14.84%.
In other Churchill Downs news, Director Karole Lloyd purchased 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average price of $123.16 per share, with a total value of $123,160.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.05% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their price objective on Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. BidaskClub lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. ValuEngine lowered Churchill Downs from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Zacks Investment Research lowered Churchill Downs from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 24th. Finally, Susquehanna Bancshares assumed coverage on Churchill Downs in a research note on Wednesday, July 24th. They issued a “positive” rating and a $140.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $132.20.
Churchill Downs Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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