Private Advisor Group LLC Sells 769 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Private Advisor Group LLC lessened its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,545 shares of the company’s stock after selling 769 shares during the period. Private Advisor Group LLC’s holdings in Churchill Downs were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Community Trust & Investment Co. increased its holdings in Churchill Downs by 0.6% during the 3rd quarter. Community Trust & Investment Co. now owns 129,629 shares of the company’s stock worth $17,527,000 after acquiring an additional 745 shares during the period. Eastern Bank bought a new stake in Churchill Downs during the 3rd quarter worth approximately $241,000. Copeland Capital Management LLC grew its stake in Churchill Downs by 1.7% in the 3rd quarter. Copeland Capital Management LLC now owns 268,725 shares of the company’s stock worth $36,334,000 after buying an additional 4,614 shares in the last quarter. Net Worth Advisory Group purchased a new position in Churchill Downs in the 3rd quarter worth approximately $279,000. Finally, Global Retirement Partners LLC grew its stake in Churchill Downs by 114.2% in the 3rd quarter. Global Retirement Partners LLC now owns 2,742 shares of the company’s stock worth $371,000 after buying an additional 1,462 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.9 %

Shares of CHDN opened at $137.26 on Tuesday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 25.00, a PEG ratio of 3.88 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a fifty day simple moving average of $138.25 and a two-hundred day simple moving average of $136.68. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS. On average, research analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio is 6.92%.

Analysts Set New Price Targets

A number of equities analysts have commented on CHDN shares. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Stifel Nicolaus boosted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

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.