Arrowstreet Capital Limited Partnership Has $93.29 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Arrowstreet Capital Limited Partnership raised its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 38.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 923,686 shares of the company's stock after acquiring an additional 256,022 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.32% of Churchill Downs worth $93,292,000 at the end of the most recent quarter.

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Several other institutional investors also recently added to or reduced their stakes in CHDN. Geneos Wealth Management Inc. grew its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after purchasing an additional 232 shares during the period. Elequin Capital LP acquired a new position in shares of Churchill Downs during the first quarter worth approximately $29,000. MAI Capital Management increased its holdings in shares of Churchill Downs by 306.9% in the second quarter. MAI Capital Management now owns 293 shares of the company's stock valued at $30,000 after purchasing an additional 221 shares in the last quarter. Signaturefd LLC raised its position in Churchill Downs by 161.1% in the 2nd quarter. Signaturefd LLC now owns 329 shares of the company's stock worth $33,000 after purchasing an additional 203 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Churchill Downs by 534.3% during the 2nd quarter. Huntington National Bank now owns 425 shares of the company's stock worth $43,000 after buying an additional 358 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $111.61 on Thursday. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $143.34. The company has a 50 day simple moving average of $99.03 and a two-hundred day simple moving average of $100.50. The company has a market capitalization of $7.78 billion, a PE ratio of 20.29, a P/E/G ratio of 1.99 and a beta of 0.70. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57.

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Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. During the same period in the previous year, the company posted $0.97 earnings per share. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a $0.438 dividend. This is a boost from Churchill Downs's previous annual dividend of $0.41. This represents a dividend yield of 46.0%. The ex-dividend date is Friday, December 5th. Churchill Downs's dividend payout ratio is 7.82%.

Analyst Ratings Changes

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CHDN has been the subject of a number of recent analyst reports. Barclays upped their price target on Churchill Downs from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Friday, October 24th. Wells Fargo & Company started coverage on shares of Churchill Downs in a research note on Tuesday, November 18th. They set an "overweight" rating and a $115.00 price objective for the company. Macquarie reaffirmed an "outperform" rating and issued a $155.00 target price on shares of Churchill Downs in a research report on Friday, October 24th. JPMorgan Chase & Co. reduced their price target on Churchill Downs from $130.00 to $128.00 and set an "overweight" rating for the company in a report on Thursday, October 16th. Finally, Susquehanna reaffirmed a "positive" rating and set a $124.00 price objective (down from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $133.30.

Read Our Latest Report on Churchill Downs

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.

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