Amalgamated Bank Acquires 178 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,966 shares of the company’s stock after purchasing an additional 178 shares during the quarter. Amalgamated Bank’s holdings in Churchill Downs were worth $4,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Blue Trust Inc. grew its holdings in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC grew its stake in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the 4th quarter worth $55,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $117.27 on Friday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The stock’s fifty day moving average is $125.58 and its 200 day moving average is $134.08. The firm has a market capitalization of $8.62 billion, a PE ratio of 20.65, a PEG ratio of 2.95 and a beta of 0.95. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its 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 the consensus estimate of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, sell-side analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.409 dividend. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio is presently 7.04%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price 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.