Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,930 shares of the company’s stock after selling 2,191 shares during the quarter. Congress Asset Management Co.’s holdings in Churchill Downs were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CHDN. Winslow Asset Management Inc. raised its stake in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after acquiring an additional 90 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank lifted its holdings in Churchill Downs by 1.8% in the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after purchasing an additional 90 shares during the period. Louisiana State Employees Retirement System grew its position in Churchill Downs by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after buying an additional 100 shares in the last quarter. Finally, Blue Trust Inc. increased its stake 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 during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Down 0.8 %

CHDN stock opened at $122.11 on Tuesday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $8.98 billion, a P/E ratio of 22.24, a P/E/G 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. The company’s 50 day simple moving average is $128.40 and its 200-day simple moving average is $134.99.

Churchill Downs Increases Dividend

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

Analyst Ratings Changes

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho dropped their price target 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. Finally, Truist Financial restated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One equities 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 company currently has an average rating of “Moderate Buy” and an average price target of $160.50.

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.