Cerity Partners LLC Has $8.16 Million Stake in Churchill Downs, Incorporated $CHDN

Cerity Partners LLC increased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 18.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,752 shares of the company’s stock after acquiring an additional 12,460 shares during the period. Cerity Partners LLC owned about 0.12% of Churchill Downs worth $8,156,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CHDN. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares in the last quarter. Elequin Capital LP acquired a new stake in Churchill Downs during the 1st quarter worth approximately $29,000. MAI Capital Management grew its holdings in Churchill Downs by 306.9% during the 2nd quarter. MAI Capital Management now owns 293 shares of the company’s stock worth $30,000 after acquiring an additional 221 shares during the last quarter. Signaturefd LLC increased its position in 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. Finally, Huntington National Bank raised its stake in shares of Churchill Downs by 534.3% during the second quarter. Huntington National Bank now owns 425 shares of the company’s stock valued at $43,000 after acquiring an additional 358 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

CHDN stock opened at $115.72 on Friday. The firm has a market cap of $8.07 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.07 and a beta of 0.70. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. The stock has a 50-day moving average price of $101.09 and a 200-day moving average price of $101.25. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $140.33.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. The business had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share 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 paid a $0.438 dividend. The ex-dividend date is Friday, December 5th. This represents a dividend yield of 39.0%. This is an increase from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio (DPR) is presently 8.00%.

Analyst Ratings Changes

Several analysts recently weighed in on CHDN shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Macquarie reissued an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Wells Fargo & Company initiated coverage on Churchill Downs in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 price objective on the stock. Finally, Susquehanna reiterated a “positive” rating and issued a $124.00 target price (down from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $133.30.

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.