Versor Investments LP Invests $473,000 in Churchill Downs Incorporated (NASDAQ:CHDN)

Versor Investments LP purchased a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHDN. Capital International Investors boosted its stake in Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Churchill Downs during the 2nd quarter worth about $125,418,000. Boston Partners lifted its position in Churchill Downs by 4.4% during the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after buying an additional 35,587 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Churchill Downs by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after acquiring an additional 3,608 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Churchill Downs by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after acquiring an additional 57,892 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Shares of CHDN opened at $140.91 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a market cap of $10.36 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.91 and a beta of 0.96. The stock’s 50-day moving average price is $138.99 and its two-hundred day moving average price is $137.66. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share. On average, equities analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is currently 6.92%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CHDN shares. Mizuho reduced their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Wells Fargo & Company lifted their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus upped their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.