ArrowMark Colorado Holdings LLC Acquires 59,657 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

ArrowMark Colorado Holdings LLC lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,344,595 shares of the company’s stock after purchasing an additional 59,657 shares during the period. Churchill Downs accounts for about 2.4% of ArrowMark Colorado Holdings LLC’s portfolio, making the stock its 3rd biggest position. ArrowMark Colorado Holdings LLC’s holdings in Churchill Downs were worth $179,557,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CHDN. Truist Financial Corp boosted its position in shares of Churchill Downs by 22.1% during the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock worth $3,958,000 after purchasing an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock worth $80,839,000 after acquiring an additional 10,153 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Churchill Downs in the fourth quarter valued at approximately $1,927,000. Landmark Investment Partners L.P. bought a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $13,317,000. Finally, Optimize Financial Inc acquired a new position in shares of Churchill Downs during the fourth quarter worth approximately $516,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CHDN shares. JMP Securities restated a “market outperform” rating and set a $157.00 price target on shares of Churchill Downs in a research note on Thursday, April 24th. Susquehanna decreased their target price on shares of Churchill Downs from $150.00 to $136.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Barclays decreased their price objective on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Finally, Stifel Nicolaus dropped their target price on Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.80.

Churchill Downs Stock Up 2.5 %

CHDN stock opened at $93.23 on Friday. Churchill Downs Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The stock’s fifty day simple moving average is $105.78 and its two-hundred day simple moving average is $123.40. The stock has a market cap of $6.73 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The firm had revenue of $642.60 million during the quarter, compared to analysts’ expectations of $649.68 million. During the same quarter in the previous year, the company posted $1.13 EPS. Churchill Downs’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Churchill Downs’s dividend payout ratio is 7.12%.

Churchill Downs declared that its board has approved a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.