Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Semanteon Capital Management LP

Semanteon Capital Management LP decreased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 22.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,740 shares of the company’s stock after selling 1,938 shares during the quarter. Semanteon Capital Management LP’s holdings in Churchill Downs were worth $911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHDN. William Blair Investment Management LLC acquired a new stake in Churchill Downs in the 2nd quarter worth about $125,418,000. Assenagon Asset Management S.A. grew its holdings in 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 valued at $27,338,000 after purchasing an additional 193,914 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Churchill Downs during the second quarter worth approximately $26,384,000. Capital International Investors raised its stake in Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares during the period. Finally, Artemis Investment Management LLP raised its stake in Churchill Downs by 60.1% during the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock worth $48,452,000 after purchasing an additional 130,331 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday. StockNews.com downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Up 1.2 %

Churchill Downs stock traded up $1.75 during midday trading on Monday, hitting $142.00. 14,891 shares of the stock were exchanged, compared to its average volume of 429,246. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50 day moving average price of $137.81 and a two-hundred day moving average price of $136.01. The firm has a market cap of $10.44 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.06 and a beta of 0.97. Churchill Downs Incorporated has a 1 year low of $107.37 and a 1 year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the prior year, the business posted $0.87 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 8.91%.

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.