IFP Advisors Inc Reduces Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

IFP Advisors Inc decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,183 shares of the company’s stock after selling 330 shares during the period. IFP Advisors Inc’s holdings in Churchill Downs were worth $166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Blue Trust Inc. lifted its position in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs during the third quarter valued at $27,000. Fortitude Family Office LLC lifted its position in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CHDN shares. Mizuho lowered their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus lowered their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company 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 Wednesday, November 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Price Performance

CHDN opened at $115.16 on Tuesday. The stock has a 50-day moving average price of $124.96 and a 200-day moving average price of $133.77. 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 firm has a market cap of $8.47 billion, a PE ratio of 20.27, a P/E/G ratio of 2.95 and a beta of 0.95. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Sell-side analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This represents a yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Churchill Downs 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.