Churchill Downs, Incorporated $CHDN Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC increased its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 14.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,656 shares of the company’s stock after buying an additional 595 shares during the period. Magnetar Financial LLC’s holdings in Churchill Downs were worth $470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $957,000. Main Management ETF Advisors LLC grew its position in shares of Churchill Downs by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 10,262 shares of the company’s stock valued at $1,036,000 after purchasing an additional 168 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Churchill Downs by 7.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 28,891 shares of the company’s stock valued at $2,918,000 after purchasing an additional 1,997 shares during the period. Cetera Investment Advisers increased its stake in Churchill Downs by 6.5% in the second quarter. Cetera Investment Advisers now owns 3,133 shares of the company’s stock valued at $316,000 after purchasing an additional 192 shares during the last quarter. Finally, Creative Planning lifted its position in Churchill Downs by 87.4% during the second quarter. Creative Planning now owns 8,085 shares of the company’s stock worth $817,000 after buying an additional 3,770 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $106.19 on Tuesday. The firm’s fifty day simple moving average is $97.19 and its 200 day simple moving average is $99.94. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $143.90. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.84 and a beta of 0.81.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.12. The firm had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $0.438 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date of this dividend is Friday, December 5th. This represents a yield of 46.0%. Churchill Downs’s dividend payout ratio is presently 7.82%.

Wall Street Analyst Weigh In

Several research firms have commented on CHDN. Wells Fargo & Company started coverage on Churchill Downs in a report on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 price target for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Macquarie reaffirmed an “outperform” rating and set a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Barclays boosted their price objective on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Susquehanna restated a “positive” rating and set a $124.00 price objective (down from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $133.30.

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.