Envestnet Portfolio Solutions Inc. Has $1.54 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Envestnet Portfolio Solutions Inc. raised its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,509 shares of the company’s stock after buying an additional 701 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Churchill Downs were worth $1,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CHDN. Empowered Funds LLC grew its holdings in shares of Churchill Downs by 24.0% during the third quarter. Empowered Funds LLC now owns 9,355 shares of the company’s stock worth $1,265,000 after buying an additional 1,810 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Churchill Downs by 6.7% during the third quarter. Thrivent Financial for Lutherans now owns 17,248 shares of the company’s stock worth $2,332,000 after purchasing an additional 1,086 shares during the last quarter. Quest Partners LLC acquired a new stake in Churchill Downs in the 3rd quarter valued at $832,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Churchill Downs during the 3rd quarter worth about $2,353,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Churchill Downs by 3,689.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,160 shares of the company’s stock worth $292,000 after buying an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.1 %

CHDN opened at $112.10 on Friday. The company has a market cap of $8.24 billion, a P/E ratio of 19.74, a PEG ratio of 2.95 and a beta of 0.93. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The company’s 50 day moving average is $119.19 and its 200-day moving average is $131.23. Churchill Downs Incorporated has a 1-year low of $105.18 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its 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 return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Equities research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Churchill Downs Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently commented on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus decreased 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 note on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Mizuho decreased their price objective 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, JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. One equities 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.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus 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.