Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Argent Capital Management LLC

Argent Capital Management LLC boosted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,435 shares of the company’s stock after buying an additional 1,893 shares during the quarter. Argent Capital Management LLC’s holdings in Churchill Downs were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the 3rd quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its stake in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in Churchill Downs during the 2nd quarter worth $42,000. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $55,000. Finally, UMB Bank n.a. increased its position in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $126.89 on Thursday. The firm has a market cap of $9.33 billion, a PE ratio of 23.11, a PEG ratio of 3.84 and a beta of 0.96. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a fifty day moving average price of $136.33 and a 200 day moving average price of $137.75. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $627.90 million. During the same quarter last year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a $0.409 dividend. The ex-dividend date was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is 7.29%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. 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, December 19th. Finally, Mizuho cut their target price 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs 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.