Commerce Bank Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Commerce Bank grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,072 shares of the company’s stock after acquiring an additional 90 shares during the period. Commerce Bank’s holdings in Churchill Downs were worth $686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kimelman & Baird LLC purchased a new position in Churchill Downs in the second quarter valued at about $42,000. CWM LLC raised its holdings in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the period. UMB Bank n.a. lifted its position in Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares in the last quarter. Bank & Trust Co purchased a new position in Churchill Downs in the 2nd quarter worth approximately $84,000. Finally, GAMMA Investing LLC grew its position in Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Truist Financial restated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho lowered their price objective on 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 equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Trading Down 0.0 %

NASDAQ:CHDN opened at $141.83 on Tuesday. The company has a market cap of $10.42 billion, a PE ratio of 25.83, a P/E/G ratio of 3.93 and a beta of 0.96. The business’s 50 day moving average is $139.07 and its two-hundred day moving average is $138.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.

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

Churchill Downs Increases Dividend

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

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.