Rep. James Comer Buys Churchill Downs Incorporated (NASDAQ:CHDN) Shares

Representative James Comer (R-Kentucky) recently bought shares of Churchill Downs Incorporated (NASDAQ:CHDN). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Churchill Downs stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

Churchill Downs Stock Up 0.6 %

Shares of CHDN opened at $128.95 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market capitalization of $9.48 billion, a P/E ratio of 23.49, a P/E/G ratio of 3.84 and a beta of 0.96. The firm has a fifty day moving average price of $136.90 and a 200-day moving average price of $137.90. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results 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. The company had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

CHDN has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note 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. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in shares of Churchill Downs during the 3rd quarter worth $516,000. Westfield Capital Management Co. LP lifted its position in shares of Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Churchill Downs by 66.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after buying an additional 100,230 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Churchill Downs during the 2nd quarter valued at approximately $794,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Churchill Downs by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after purchasing an additional 57,892 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

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.