Voya Investment Management LLC Sells 18,373 Shares of Churchill Downs, Incorporated $CHDN

Voya Investment Management LLC lowered its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 73.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,582 shares of the company’s stock after selling 18,373 shares during the period. Voya Investment Management LLC’s holdings in Churchill Downs were worth $639,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CHDN. London Co. of Virginia increased its position in Churchill Downs by 38.7% in the second quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after buying an additional 835,294 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Churchill Downs by 38.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 923,686 shares of the company’s stock valued at $93,292,000 after acquiring an additional 256,022 shares during the period. Ameriprise Financial Inc. raised its stake in Churchill Downs by 5.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 793,258 shares of the company’s stock valued at $80,119,000 after acquiring an additional 40,645 shares during the period. AQR Capital Management LLC lifted its holdings in Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Churchill Downs by 74.4% during the second quarter. Bank of America Corp DE now owns 671,759 shares of the company’s stock worth $67,848,000 after purchasing an additional 286,488 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.8%

Churchill Downs stock opened at $113.78 on Friday. 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, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $136.34. The stock has a market cap of $7.93 billion, a P/E ratio of 20.69, a PEG ratio of 1.86 and a beta of 0.68. The firm’s fifty day moving average price is $107.90 and its 200-day moving average price is $103.20.

Churchill Downs (NASDAQ:CHDN) last posted 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. 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 during the quarter, compared to analysts’ expectations of $671.43 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $0.438 dividend. This is an increase from Churchill Downs’s previous annual dividend of $0.41. This represents a yield of 39.0%. The ex-dividend date of this dividend is Friday, December 5th. Churchill Downs’s payout ratio is 8.00%.

Wall Street Analyst Weigh In

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

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.