Exchange Traded Concepts LLC Has $4.16 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Exchange Traded Concepts LLC increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,159 shares of the company’s stock after buying an additional 1,454 shares during the period. Exchange Traded Concepts LLC’s holdings in Churchill Downs were worth $4,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC grew its stake in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Kimelman & Baird LLC bought a new stake in Churchill Downs in the second quarter worth approximately $42,000. Eagle Bay Advisors LLC acquired a new position in Churchill Downs in the fourth quarter valued at approximately $55,000. Finally, UMB Bank n.a. boosted its holdings in shares of Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $125.02 on Friday. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week 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 business has a 50 day moving average price of $133.98 and a 200-day moving average price of $137.08. The company has a market cap of $9.19 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same period last year, the business earned $0.87 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that Churchill Downs Incorporated will post 5.84 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

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

Analyst Ratings Changes

CHDN has been the subject of several research analyst reports. Mizuho lowered their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Truist Financial restated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

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.