Aigen Investment Management LP Takes $516,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Aigen Investment Management LP bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 3,817 shares of the company’s stock, valued at approximately $516,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CHDN. Kimelman & Baird LLC bought a new position in shares of Churchill Downs in the second quarter worth about $42,000. CWM LLC raised its stake in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares during the period. UMB Bank n.a. lifted its holdings in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after purchasing an additional 255 shares in the last quarter. Bank & Trust Co bought a new position in shares of Churchill Downs in the second quarter worth approximately $84,000. Finally, GAMMA Investing LLC increased its stake in shares of Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CHDN shares. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. 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. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Finally, Stifel Nicolaus increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One 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, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Down 0.4 %

NASDAQ CHDN opened at $140.91 on Friday. The stock has a 50 day moving average price of $138.99 and a 200-day moving average price of $137.66. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. 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 company has a market capitalization of $10.36 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.91 and a beta of 0.96.

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

Churchill Downs Increases Dividend

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

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.