UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 206,603 shares of the company’s stock after selling 17,185 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Churchill Downs worth $27,935,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in Churchill Downs during the 3rd quarter valued at about $516,000. Westfield Capital Management Co. LP lifted its stake in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares during the period. Assenagon Asset Management S.A. lifted 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 acquiring an additional 193,914 shares during the period. Point72 Asset Management L.P. lifted its stake in Churchill Downs by 66.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after acquiring an additional 100,230 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in Churchill Downs during the 2nd quarter valued at about $794,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CHDN shares. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Monday, October 14th. Truist Financial restated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho dropped their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Up 1.4 %

CHDN stock opened at $142.26 on Thursday. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve 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. The stock has a market cap of $10.46 billion, a P/E ratio of 25.55, a PEG ratio of 3.95 and a beta of 0.95. The business’s 50-day moving average price is $139.43 and its 200-day moving average price is $138.27.

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

Churchill Downs Increases Dividend

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

Churchill Downs Company 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.