UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 17,185 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 7.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 206,603 shares of the company’s stock after selling 17,185 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Churchill Downs were worth $27,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CHDN. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs in the second quarter worth about $125,418,000. Westfield Capital Management Co. LP lifted its position in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Churchill Downs in the second quarter worth about $26,384,000. Finally, Artemis Investment Management LLP lifted its position in shares of Churchill Downs by 60.1% in the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock worth $48,452,000 after buying an additional 130,331 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Churchill Downs stock opened at $142.26 on Thursday. 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 Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The firm has a market capitalization of $10.46 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.95 and a beta of 0.95. The company’s 50-day moving average is $139.43 and its 200 day moving average is $138.27.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same period in the prior year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be 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 of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 6.92%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho decreased their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report 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 data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target 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.