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

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

Several other institutional investors and hedge funds have also modified their holdings of CHDN. Signaturefd LLC grew its position in Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock valued at $33,000 after acquiring an additional 203 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Churchill Downs by 5.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,561 shares of the company’s stock valued at $1,875,000 after buying an additional 990 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Churchill Downs by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock worth $68,359,000 after buying an additional 10,108 shares during the period. Bayforest Capital Ltd purchased a new stake in Churchill Downs during the second quarter worth approximately $593,000. Finally, LPL Financial LLC increased its position in shares of Churchill Downs by 51.5% in the first quarter. LPL Financial LLC now owns 61,158 shares of the company’s stock worth $6,793,000 after acquiring an additional 20,802 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $109.09 on Friday. The firm has a market cap of $7.61 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $143.90. The firm’s 50-day simple moving average is $98.18 and its 200-day simple moving average is $100.23. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last released its 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 for the quarter, compared to the consensus estimate of $671.43 million. During the same quarter last year, the business posted $0.97 EPS. Churchill Downs’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Wells Fargo & Company assumed coverage on shares of Churchill Downs in a research note on Tuesday, November 18th. They set an “overweight” rating and a $115.00 price objective on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Barclays raised their price target on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $155.00 price objective on shares of Churchill Downs in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $133.30.

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.