Renaissance Technologies LLC Buys 11,400 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Renaissance Technologies LLC raised its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 15.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 84,950 shares of the company’s stock after purchasing an additional 11,400 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Churchill Downs worth $11,344,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC increased its position in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs during the fourth quarter worth $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

CHDN has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Mizuho dropped their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Barclays began coverage on Churchill Downs in a report on Friday, April 11th. They set an “overweight” rating and a $125.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.44.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $102.63 on Wednesday. The stock has a market capitalization of $7.54 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 1-year low of $96.67 and a 1-year high of $150.21. The business has a 50-day moving average price of $112.12 and a two-hundred day moving average price of $127.11.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs’s dividend payout ratio is presently 7.04%.

Churchill Downs announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.