Harbor Capital Advisors Inc. Acquires 1,385 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Harbor Capital Advisors Inc. grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,587 shares of the company’s stock after acquiring an additional 1,385 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of Churchill Downs worth $6,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CHDN. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs in the 3rd quarter worth $27,000. Fortitude Family Office LLC lifted its holdings in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Churchill Downs during the second quarter worth about $42,000. UMB Bank n.a. grew its holdings in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CHDN shares. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research note on Thursday, December 19th. Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho decreased their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Performance

CHDN opened at $126.86 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The business has a 50 day moving average of $137.32 and a 200-day moving average of $138.10. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 3.84 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million during 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 company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. On average, equities research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 7.29%.

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.