Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 7.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,233 shares of the company’s stock after selling 1,445 shares during the period. Marshall Wace LLP’s holdings in Churchill Downs were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CHDN. Norges Bank bought a new position in Churchill Downs during the 4th quarter worth $74,967,000. Boston Partners grew its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after buying an additional 366,283 shares during the last quarter. FMR LLC grew its stake in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock worth $479,687,000 after buying an additional 214,694 shares during the last quarter. Clearbridge Investments LLC bought a new position in Churchill Downs during the 4th quarter worth $28,369,000. Finally, Raymond James Financial Inc. bought a new position in Churchill Downs during the 4th quarter worth $16,015,000. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Susquehanna reduced their price target on Churchill Downs from $150.00 to $136.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $157.00 price target on shares of Churchill Downs in a research report on Thursday. Macquarie reduced their price target on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Mizuho reduced their price target on Churchill Downs from $148.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.80.

Churchill Downs Trading Up 0.4 %

Shares of Churchill Downs stock opened at $88.35 on Monday. Churchill Downs Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a fifty day simple moving average of $108.37 and a 200-day simple moving average of $124.86.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results 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 company had revenue of $642.60 million for the quarter, compared to analysts’ expectations of $649.68 million. On average, equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Churchill Downs’s dividend payout ratio is 7.12%.

Churchill Downs declared that its board has authorized a stock repurchase plan on Wednesday, March 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.