Orion Portfolio Solutions LLC Purchases 721 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Orion Portfolio Solutions LLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,113 shares of the company’s stock after acquiring an additional 721 shares during the period. Orion Portfolio Solutions LLC owned 0.06% of Churchill Downs worth $6,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its stake in shares of Churchill Downs by 11.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,819 shares of the company’s stock valued at $1,445,000 after purchasing an additional 1,146 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Churchill Downs during the 4th quarter worth $990,000. Norges Bank bought a new stake in shares of Churchill Downs during the 4th quarter valued at $74,967,000. JPMorgan Chase & Co. lifted its stake in shares of Churchill Downs by 15.8% in the 4th quarter. JPMorgan Chase & Co. now owns 212,663 shares of the company’s stock valued at $28,399,000 after purchasing an additional 29,069 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Churchill Downs by 11.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 210,482 shares of the company’s stock worth $28,108,000 after purchasing an additional 22,124 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Down 1.0 %

Shares of CHDN stock opened at $111.23 on Friday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 12-month low of $105.18 and a 12-month high of $150.21. The firm has a fifty day moving average of $117.77 and a 200-day moving average of $130.28. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. Churchill Downs’s payout ratio is 7.04%.

Churchill Downs announced that its board has initiated a share buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Stifel Nicolaus decreased their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $159.38.

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.