Sargent Investment Group LLC Sells 95 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Sargent Investment Group LLC lowered its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% during the third quarter, HoldingsChannel.com reports. The fund owned 1,890 shares of the company’s stock after selling 95 shares during the period. Sargent Investment Group LLC’s holdings in Churchill Downs were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 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 acquiring an additional 177,900 shares in the last quarter. William Blair Investment Management LLC bought a new position in Churchill Downs during the 2nd quarter valued at about $125,418,000. Boston Partners lifted its holdings in Churchill Downs by 4.4% during the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after purchasing an additional 35,587 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Churchill Downs by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock valued at $88,551,000 after buying an additional 3,608 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after buying an additional 57,892 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

CHDN has been the topic of a number of research analyst reports. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Macquarie upped their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Down 0.4 %

Shares of NASDAQ CHDN opened at $140.91 on Friday. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The firm’s 50-day moving average is $138.99 and its 200-day moving average is $137.66. 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 $10.36 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 3.92 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. Equities analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders 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 payout ratio is presently 6.92%.

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.