Churchill Downs, Incorporated $CHDN Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC raised its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 14.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,656 shares of the company’s stock after purchasing an additional 595 shares during the period. Magnetar Financial LLC’s holdings in Churchill Downs were worth $470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Churchill Downs during the second quarter worth about $957,000. Main Management ETF Advisors LLC increased its holdings in Churchill Downs by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 10,262 shares of the company’s stock worth $1,036,000 after purchasing an additional 168 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Churchill Downs by 7.4% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 28,891 shares of the company’s stock worth $2,918,000 after purchasing an additional 1,997 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Churchill Downs by 6.5% in the 2nd quarter. Cetera Investment Advisers now owns 3,133 shares of the company’s stock valued at $316,000 after purchasing an additional 192 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Churchill Downs by 87.4% during the 2nd quarter. Creative Planning now owns 8,085 shares of the company’s stock valued at $817,000 after buying an additional 3,770 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Churchill Downs stock opened at $106.19 on Tuesday. 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 1 year low of $85.58 and a 1 year high of $143.90. The firm’s 50-day moving average is $97.19 and its 200-day moving average is $99.94. The company has a market cap of $7.40 billion, a P/E ratio of 19.31, a PEG ratio of 1.84 and a beta of 0.81.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The firm 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 business earned $0.97 earnings per share. Churchill Downs’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities 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 declared an annual dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a $0.438 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date of this dividend is Friday, December 5th. This represents a dividend yield of 46.0%. Churchill Downs’s dividend payout ratio (DPR) is 7.82%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Susquehanna restated a “positive” rating and issued a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective 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. Macquarie restated an “outperform” rating and issued a $155.00 target price on shares of Churchill Downs in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Finally, Barclays boosted their price objective on Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price 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.