Soros Capital Management LLC Buys 884 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Soros Capital Management LLC grew its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,619 shares of the company’s stock after purchasing an additional 884 shares during the quarter. Soros Capital Management LLC’s holdings in Churchill Downs were worth $625,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Winslow Asset Management Inc. lifted its position in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC raised its position in 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 raised its position in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after purchasing an additional 90 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Churchill Downs by 13.8% during the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after purchasing an additional 99 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CHDN. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Truist Financial reiterated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Trading Down 1.5 %

Shares of NASDAQ CHDN opened at $139.70 on Wednesday. The firm has a 50 day moving average price of $139.07 and a two-hundred day moving average price of $138.02. The stock has a market cap of $10.27 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 3.93 and a beta of 0.96. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week 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.

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

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a $0.409 dividend. 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 of this dividend is Friday, December 6th. Churchill Downs’s payout ratio is presently 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.