Churchill Downs, Incorporated $CHDN Stock: ProShare Advisors LLC Raises Stake

ProShare Advisors LLC increased its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 13.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 331,954 shares of the company’s stock after buying an additional 40,339 shares during the period. ProShare Advisors LLC’s holdings in Churchill Downs were worth $25,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CHDN. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Churchill Downs by 1,083.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 49,700 shares of the company’s stock valued at $3,761,000 after acquiring an additional 45,500 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Churchill Downs in the third quarter worth about $215,000. Sage Private Wealth Group LLC purchased a new position in Churchill Downs in the third quarter worth about $225,000. Skylands Capital LLC boosted its position in Churchill Downs by 62.0% in the third quarter. Skylands Capital LLC now owns 167,256 shares of the company’s stock worth $12,658,000 after purchasing an additional 64,006 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Churchill Downs by 3.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,335 shares of the company’s stock valued at $555,000 after purchasing an additional 260 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the subject of several research reports. Stifel Nicolaus set a $132.00 price target on shares of Churchill Downs and gave the company a “buy” rating in a research report on Tuesday, October 27th. Royal Bank Of Canada set a $131.00 target price on shares of Churchill Downs in a research report on Tuesday, October 13th. JPMorgan Chase & Co. upped their target price on shares of Churchill Downs from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. Susquehanna decreased their price target on shares of Churchill Downs from $124.00 to $115.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. Finally, Mizuho lifted their price target on shares of Churchill Downs from $125.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold 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 $126.70.

Churchill Downs Stock Up 4.4%

NASDAQ CHDN opened at $99.01 on Tuesday. Churchill Downs, Incorporated has a 52 week low of $73.08 and a 52 week high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The company has a market capitalization of $6.79 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.87 and a beta of 0.77. The stock’s 50-day moving average price is $83.02 and its 200-day moving average price is $88.25.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. The company had revenue of $696.00 million during the quarter, compared to the consensus estimate of $695.16 million. Churchill Downs had a return on equity of 41.89% and a net margin of 15.15%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. On average, equities research analysts predict that Churchill Downs, Incorporated will post 6.98 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.4690 per share. This is an increase from Churchill Downs’s previous annual dividend of $0.4380. This represents a yield of 57.0%. The ex-dividend date of this dividend is Friday, December 4th. Churchill Downs’s payout ratio is presently 7.14%.

Churchill Downs Profile

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.