Cardinal Strategic Wealth Guidance Trims Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Cardinal Strategic Wealth Guidance decreased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 66.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,675 shares of the company’s stock after selling 5,320 shares during the period. Cardinal Strategic Wealth Guidance’s holdings in Churchill Downs were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC increased its position in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs during the 4th quarter valued at approximately $55,000. Finally, R Squared Ltd acquired a new stake in Churchill Downs during the 4th quarter worth approximately $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $122.43 on Tuesday. The business’s 50-day simple moving average is $130.21 and its 200-day simple moving average is $135.72. The firm has a market capitalization of $9.00 billion, a P/E ratio of 22.30, a P/E/G ratio of 3.05 and a beta of 0.95. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s payout ratio is 7.47%.

Analysts Set New Price Targets

CHDN has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $160.50.

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.