Soros Capital Management LLC Has $625,000 Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Soros Capital Management LLC increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 23.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,619 shares of the company’s stock after buying an additional 884 shares during the quarter. Soros Capital Management LLC’s holdings in Churchill Downs were worth $625,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Churchill Downs by 259.3% during the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after acquiring an additional 14,331 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Churchill Downs in the 3rd quarter valued at $516,000. Assenagon Asset Management S.A. increased its stake in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after purchasing an additional 193,914 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after buying an additional 100,230 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHDN has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho decreased their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Performance

CHDN stock opened at $139.70 on Wednesday. The business has a 50 day moving average of $139.07 and a 200-day moving average of $138.02. The firm has a market cap of $10.27 billion, a PE ratio of 25.45, a P/E/G ratio of 3.93 and a beta of 0.96. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, sell-side analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s payout ratio is currently 6.92%.

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.