Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 39.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,260 shares of the company’s stock after selling 6,760 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Churchill Downs were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Churchill Downs by 59.2% during the 3rd quarter. Barclays PLC now owns 29,584 shares of the company’s stock valued at $4,000,000 after acquiring an additional 11,006 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs in the third quarter valued at about $27,000. Tidal Investments LLC lifted its stake in shares of Churchill Downs by 295.2% during the third quarter. Tidal Investments LLC now owns 6,988 shares of the company’s stock worth $945,000 after purchasing an additional 5,220 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Churchill Downs by 6.6% in the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company’s stock worth $27,338,000 after buying an additional 12,156 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after buying an additional 12,226 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $92.03 on Wednesday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The firm’s 50-day simple moving average is $104.80 and its 200-day simple moving average is $122.62. The firm has a market cap of $6.65 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. Equities analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its board has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Churchill Downs Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. Churchill Downs’s payout ratio is 7.12%.

Analyst Ratings Changes

Several equities analysts recently commented on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Jefferies Financial Group reduced their target price on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus decreased their target price on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

About Churchill Downs

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.