10,993 Shares in Churchill Downs Incorporated (NASDAQ:CHDN) Acquired by Nomura Holdings Inc.

Nomura Holdings Inc. purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,993 shares of the company’s stock, valued at approximately $1,468,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Churchill Downs in the 4th quarter worth approximately $55,000. Covestor Ltd boosted its stake in Churchill Downs by 46.8% during the 4th quarter. Covestor Ltd now owns 929 shares of the company’s stock valued at $124,000 after purchasing an additional 296 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of Churchill Downs in the 4th quarter worth $134,000. Finally, Larson Financial Group LLC increased its holdings in shares of Churchill Downs by 119,900.0% in the 4th quarter. Larson Financial Group LLC now owns 1,200 shares of the company’s stock worth $160,000 after purchasing an additional 1,199 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin purchased 2,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $92.65 per share, with a total value of $185,300.00. Following the completion of the acquisition, the director now directly owns 99,012 shares in the company, valued at $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas C. Grissom acquired 10,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the transaction, the director now directly owns 38,869 shares of the company’s stock, valued at approximately $3,605,877.13. This represents a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CHDN shares. JMP Securities reaffirmed a “market outperform” rating and set a $144.00 price objective on shares of Churchill Downs in a research report on Monday, May 5th. Stifel Nicolaus dropped their price objective on Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Finally, Macquarie dropped their price objective on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Churchill Downs Stock Performance

CHDN stock opened at $98.27 on Friday. The company has a market cap of $7.10 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. Churchill Downs Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock’s fifty day moving average price is $102.17 and its 200-day moving average price is $120.26.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The firm had revenue of $642.60 million during the quarter, compared to analysts’ expectations of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. On average, equities analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.24%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.12%.

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.