Headlands Technologies LLC Has $430,000 Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Headlands Technologies LLC increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 116.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,218 shares of the company’s stock after buying an additional 1,734 shares during the quarter. Headlands Technologies LLC’s holdings in Churchill Downs were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in shares of Churchill Downs by 22.1% during the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock worth $3,958,000 after purchasing an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Churchill Downs by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock worth $80,839,000 after buying an additional 10,153 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at approximately $1,927,000. JPMorgan Chase & Co. lifted its holdings in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after acquiring an additional 12,226 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Churchill Downs by 4.7% during the 4th quarter. Victory Capital Management Inc. now owns 228,550 shares of the company’s stock worth $30,521,000 after acquiring an additional 10,359 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 2.5 %

CHDN opened at $109.02 on Friday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a fifty-two week low of $105.18 and a fifty-two week high of $150.21. The company’s 50 day moving average price is $116.56 and its two-hundred day moving average price is $129.53. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company 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%. As a group, research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Churchill Downs’s dividend payout ratio is currently 7.04%.

Wall Street Analysts Forecast Growth

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

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.