Y Intercept Hong Kong Ltd Makes New Investment in Churchill Downs, Incorporated $CHDN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,589 shares of the company’s stock, valued at approximately $1,170,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Churchill Downs by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company’s stock valued at $34,073,000 after acquiring an additional 11,460 shares during the last quarter. Aurora Investment Counsel purchased a new stake in Churchill Downs in the first quarter worth about $2,675,000. Teacher Retirement System of Texas increased its position in Churchill Downs by 19.3% in the first quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company’s stock worth $1,218,000 after buying an additional 1,774 shares in the last quarter. Hunter Associates Investment Management LLC grew its position in shares of Churchill Downs by 29.1% during the first quarter. Hunter Associates Investment Management LLC now owns 32,428 shares of the company’s stock worth $3,600,000 after purchasing an additional 7,306 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after purchasing an additional 203 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Susquehanna reissued a “positive” rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Stifel Nicolaus raised their price objective on Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Barclays raised their price objective on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Mizuho lifted their price target on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.60.

Churchill Downs Stock Performance

Shares of CHDN opened at $98.61 on Tuesday. The stock has a 50-day moving average of $97.18 and a two-hundred day moving average of $99.21. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $6.88 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.84 and a beta of 0.83.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The company had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a $0.438 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date of this dividend is Friday, December 5th. This represents a dividend yield of 46.0%. Churchill Downs’s payout ratio is presently 7.82%.

Churchill Downs Company 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.