Victory Capital Management Inc. Has $29.50 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Victory Capital Management Inc. boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 44.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,191 shares of the company’s stock after acquiring an additional 67,296 shares during the period. Victory Capital Management Inc. owned 0.30% of Churchill Downs worth $29,502,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CHDN. BNP Paribas Financial Markets lifted its position in shares of Churchill Downs by 56.2% during the 1st quarter. BNP Paribas Financial Markets now owns 6,481 shares of the company’s stock worth $802,000 after purchasing an additional 2,332 shares during the last quarter. Sei Investments Co. boosted its position in shares of Churchill Downs by 29.0% in the first quarter. Sei Investments Co. now owns 36,100 shares of the company’s stock valued at $4,468,000 after acquiring an additional 8,116 shares during the period. Entropy Technologies LP acquired a new stake in shares of Churchill Downs in the first quarter worth $240,000. Cynosure Group LLC bought a new position in Churchill Downs during the first quarter worth $356,000. Finally, Covestor Ltd raised its stake in Churchill Downs by 22.8% during the 1st quarter. Covestor Ltd now owns 928 shares of the company’s stock valued at $115,000 after purchasing an additional 172 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Down 1.4 %

Shares of NASDAQ CHDN opened at $138.91 on Friday. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The business has a fifty day moving average of $139.03 and a two-hundred day moving average of $137.79. The stock has a market cap of $10.21 billion, a PE ratio of 25.30, a PEG ratio of 3.92 and a beta of 0.96.

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

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.409 per share. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs’s dividend payout ratio is 7.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHDN shares. Macquarie boosted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.88.

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.