WCM Investment Management LLC Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

WCM Investment Management LLC boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 22.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 138,841 shares of the company’s stock after purchasing an additional 25,197 shares during the quarter. WCM Investment Management LLC owned about 0.19% of Churchill Downs worth $18,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Westfield Capital Management Co. LP grew its holdings in shares of Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Churchill Downs in the third quarter worth $18,368,000. State Street Corp lifted its holdings in shares of Churchill Downs by 5.8% during the third 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 in the last quarter. Geode Capital Management LLC increased its holdings in Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after buying an additional 96,910 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Churchill Downs by 44.6% in the 3rd quarter. Victory Capital Management Inc. now owns 218,191 shares of the company’s stock worth $29,502,000 after buying an additional 67,296 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CHDN. Mizuho reduced their price target 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. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One 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 has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Down 1.0 %

Shares of CHDN stock opened at $122.01 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day simple moving average of $130.62 and a two-hundred day simple moving average of $135.84. The firm has a market capitalization of $8.97 billion, a PE ratio of 22.22, a PEG ratio of 3.05 and a beta of 0.95. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

Churchill Downs Increases Dividend

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

About Churchill Downs

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.