Harbor Capital Advisors Inc. Has $6.11 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Harbor Capital Advisors Inc. grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 127.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,202 shares of the company’s stock after buying an additional 25,345 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Churchill Downs were worth $6,112,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Churchill Downs by 56.2% in 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 period. FORA Capital LLC lifted its holdings in shares of Churchill Downs by 27.5% in the first quarter. FORA Capital LLC now owns 9,464 shares of the company’s stock valued at $1,171,000 after purchasing an additional 2,042 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Churchill Downs by 5.6% during the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after buying an additional 44,773 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Churchill Downs during the first quarter worth about $44,000. Finally, Texas Permanent School Fund Corp raised its position in Churchill Downs by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 59,409 shares of the company’s stock valued at $7,352,000 after buying an additional 769 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN opened at $138.48 on Friday. The company has a market cap of $10.18 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 3.99 and a beta of 0.96. The firm has a 50-day moving average of $138.25 and a 200-day moving average of $136.49. Churchill Downs Incorporated has a one year low of $108.00 and a one year high of $146.64. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last issued its 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 business 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%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. As a group, equities analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHDN shares. StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Truist Financial restated a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target 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.