Churchill Downs, Incorporated $CHDN Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,908 shares of the company’s stock after selling 684 shares during the quarter. Amalgamated Bank’s holdings in Churchill Downs were worth $3,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHDN. Geneos Wealth Management Inc. lifted 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 worth $28,000 after purchasing an additional 232 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Churchill Downs during the first quarter worth about $29,000. Signaturefd LLC lifted its stake in shares of Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after purchasing an additional 203 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Churchill Downs by 132.2% during the second quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock worth $47,000 after purchasing an additional 267 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Churchill Downs by 154.9% during the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CHDN shares. Mizuho boosted their price target on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price target on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Truist Financial cut their price target on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, 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. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.60.

Churchill Downs Stock Down 0.6%

Shares of Churchill Downs stock opened at $98.61 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87. The firm has a market cap of $6.88 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.84 and a beta of 0.83. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The business has a 50-day moving average price of $97.18 and a 200 day moving average price of $99.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. The firm had revenue of $683.00 million during the quarter, compared to analyst estimates of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.Churchill Downs’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. On average, sell-side 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. Stockholders 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 boost 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%.

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.