Oppenheimer Asset Management Inc. Purchases 1,882 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Oppenheimer Asset Management Inc. raised its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,532 shares of the company’s stock after purchasing an additional 1,882 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Churchill Downs were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC lifted its position in shares of 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 acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the fourth quarter worth $55,000. Finally, R Squared Ltd purchased a new stake in shares of Churchill Downs during the fourth quarter worth $55,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Trading Down 2.1 %

Shares of CHDN stock opened at $112.70 on Wednesday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a market capitalization of $8.29 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.95. The business’s fifty day moving average is $124.96 and its 200 day moving average is $133.77.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results 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). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company 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 is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Mizuho dropped their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

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.