Global Retirement Partners LLC Makes New $441,000 Investment in Churchill Downs, Incorporated $CHDN

Global Retirement Partners LLC purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,364 shares of the company’s stock, valued at approximately $441,000.

Other institutional investors have also modified their holdings of the company. JLB & Associates Inc. lifted its position in Churchill Downs by 3.8% in the 2nd quarter. JLB & Associates Inc. now owns 2,867 shares of the company’s stock valued at $290,000 after purchasing an additional 105 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Churchill Downs by 2.0% in the second quarter. Bessemer Group Inc. now owns 6,474 shares of the company’s stock valued at $654,000 after purchasing an additional 126 shares during the period. Aristides Capital LLC raised its holdings in shares of Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock valued at $273,000 after buying an additional 132 shares during the last quarter. RPS Advisory Solutions LLC boosted its position in shares of Churchill Downs by 4.6% during the second quarter. RPS Advisory Solutions LLC now owns 3,497 shares of the company’s stock worth $353,000 after buying an additional 154 shares during the period. Finally, Main Management ETF Advisors LLC grew its holdings in Churchill Downs by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 10,262 shares of the company’s stock worth $1,036,000 after buying an additional 168 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $109.09 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87. The business’s 50-day moving average price is $98.18 and its 200 day moving average price is $100.23. Churchill Downs, Incorporated has a 52-week low of $85.58 and a 52-week high of $143.90. The firm has a market cap of $7.61 billion, a P/E ratio of 19.83, a PEG ratio of 1.84 and a beta of 0.81.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. Churchill Downs’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. As a group, sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a $0.438 dividend. This represents a yield of 46.0%. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.82%.

Analysts Set New Price Targets

CHDN has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Susquehanna reiterated a “positive” rating and issued a $124.00 target price (down previously from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Wells Fargo & Company began coverage on shares of Churchill Downs in a research note on Tuesday, November 18th. They set an “overweight” rating and a $115.00 target price on the stock. Finally, Barclays upped their price target on shares of Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $133.30.

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.