Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 51.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,723 shares of the company’s stock after selling 4,925 shares during the period. Quantbot Technologies LP’s holdings in Churchill Downs were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. Blue Trust Inc. increased its position in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC raised its position in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the 4th quarter valued at approximately $55,000. Finally, R Squared Ltd acquired a new position in Churchill Downs in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $112.40 on Friday. The company has a market cap of $8.26 billion, a P/E ratio of 19.79, a PEG ratio of 2.95 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a fifty-two week low of $105.18 and a fifty-two week high of $150.21. The firm’s 50 day moving average price is $118.07 and its 200 day moving average price is $130.55.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, research analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Churchill Downs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. Churchill Downs’s payout ratio is 7.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.