Centerline Wealth Advisors LLC Buys Shares of 2,357 Churchill Downs Incorporated (NASDAQ:CHDN)

Centerline Wealth Advisors LLC bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,357 shares of the company’s stock, valued at approximately $314,000. Churchill Downs accounts for about 0.2% of Centerline Wealth Advisors LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in CHDN. Westfield Capital Management Co. LP grew its stake in Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at about $18,368,000. State Street Corp raised its stake in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after purchasing an additional 114,018 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at about $15,231,000. Finally, Geode Capital Management LLC raised its stake in shares of Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after purchasing an additional 96,910 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial restated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company lifted 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. Finally, Mizuho dropped their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Up 1.9 %

Shares of CHDN opened at $123.27 on Friday. The firm has a market cap of $9.06 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.06 and a beta of 0.95. The stock has a 50 day simple moving average of $131.02 and a two-hundred day simple moving average of $136.01. 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 Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.47%.

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.