Creative Planning Buys 3,770 Shares of Churchill Downs, Incorporated $CHDN

Creative Planning raised its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 87.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,085 shares of the company’s stock after buying an additional 3,770 shares during the quarter. Creative Planning’s holdings in Churchill Downs were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the period. Elequin Capital LP bought a new position in shares of Churchill Downs in the first quarter valued at $29,000. Signaturefd LLC grew its position in shares of Churchill Downs by 161.1% in the 2nd 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. Huntington National Bank grew its holdings in Churchill Downs by 534.3% during the second quarter. Huntington National Bank now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 358 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of Churchill Downs by 132.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock worth $47,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.6%

NASDAQ:CHDN opened at $110.83 on Tuesday. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $143.90. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.84 and a beta of 0.81. The firm has a fifty day simple moving average of $98.48 and a two-hundred day simple moving average of $100.33. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $671.43 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Churchill Downs, Incorporated will post 6.92 EPS 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. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. The ex-dividend date of this dividend is Friday, December 5th. This is a boost from Churchill Downs’s previous annual dividend of $0.41. This represents a dividend yield of 46.0%. Churchill Downs’s payout ratio is presently 7.82%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHDN shares. Macquarie reiterated an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Barclays lifted their target price on Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Finally, Wells Fargo & Company began coverage on Churchill Downs in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 price objective for the company. 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. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of “Buy” and an average 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.