Xponance Inc. Purchases 412 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Xponance Inc. increased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,345 shares of the company’s stock after acquiring an additional 412 shares during the quarter. Xponance Inc.’s holdings in Churchill Downs were worth $1,916,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs in the third quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its position in shares of Churchill Downs by 2,733.3% in the fourth 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 bought a new position in shares of Churchill Downs in the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd bought a new position in shares of Churchill Downs in the fourth quarter valued at approximately $55,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $112.10 on Friday. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a fifty day moving average of $119.19 and a 200-day moving average of $131.23. 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 (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS 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 the consensus estimate of $620.21 million. Equities research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its board has approved a share buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Churchill Downs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Churchill Downs’s dividend payout ratio is currently 7.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on CHDN. Stifel Nicolaus dropped their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. 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 dropped their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Mizuho dropped their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.