Churchill Downs Incorporated (NASDAQ: CHDN) Short-Term Interest Update

Churchill Downs Incorporated (NASDAQ: CHDN) was the target of a significant drop in short interest during the month of November. As of November 15, there was short interest totaling 659,100 shares, a decrease of 28.8% from the total of 926,000 shares as of October 31. About 1.9% of stocks are sold short. Based on an average trading volume of 213,800 shares, the day-to-coverage ratio is currently 3.1 days.

CHDN has been the subject of several analyst reports. Wells Fargo & Company provided coverage of Churchill Downs in a research report on Tuesday, September 14. They issued an “overweight” rating and a price target of $ 255.00 for the company. The Berenberg Bank launched coverage on Churchill Downs in a research report on Tuesday, October 19. They issued a “buy” note and a price target of $ 294.00 for the company. Susquehanna lowered its price target on Churchill Downs from $ 275.00 to $ 268.00 and rated the company “positive” in a research report released Thursday, November 11. KeyCorp raised its price target on Churchill Downs from $ 250.00 to $ 270.00 and rated the stock “overweight” in a research report published on Wednesday, October 6. Finally, Zacks Investment Research downgraded Churchill Downs from a “custody” rating to a “buy” rating and set a price target of $ 277.00 for the company in a research report released on Monday 4. October. Nine research analysts rated the stock with a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $ 263.89.

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Churchill Downs stock traded up $ 4.02 at noon Thursday to hit $ 221.59. The company’s shares had a trade volume of 456 shares, compared to its average volume of 252,882. The company has a market capitalization of $ 8.48 billion, a P / E ratio of 38.37 and a beta of 1.17. The company has a quick ratio of 1.50, a current ratio of 1.50, and a debt ratio of 5.79. Churchill Downs has a 52-week low of $ 174.53 and a 52.20-week high of $ 262.20. The company has a 50-day simple moving average of $ 240.96 and a 200-day simple moving average of $ 213.87.

Churchill Downs (NASDAQ: CHDN) last released its quarterly earnings data on Tuesday, October 26. The company reported earnings per share of $ 1.61 for the quarter, beating Thomson Reuters consensus estimate of $ 1.47 by $ 0.14. The company posted revenue of $ 393.00 million in the quarter, compared to a consensus estimate of $ 406.76 million. Churchill Downs had a return on equity of 73.90% and a net margin of 14.76%. The company’s revenue increased 16.3% compared to the same quarter last year. During the same period of the previous year, the company achieved earnings per share of $ 1.19. As a group, stock analysts predict Churchill Downs will post earnings per share of 6.64 for the current year.

The company also recently declared an annual dividend, which will be paid on Friday, January 7. Investors of record on Friday, December 3 will receive a dividend of $ 0.667 per share. The ex-dividend date of this dividend is Thursday, December 2. This is an increase from Churchill Downs’ previous annual dividend of $ 0.62. This represents a dividend yield of 0.28%. Churchill Downs’ dividend payout ratio (DPR) is currently 10.93%.

Meanwhile, SVP Austin W. Miller sold 5,600 shares in a trade that took place on Thursday, September 16. The stock was sold for an average price of $ 225.24, for a total value of $ 1,261,344.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. 4.28% of the shares are held by insiders.

Several hedge funds and other institutional investors have recently changed their holdings of equities. Dark Forest Capital Management LP acquired a new stake in Churchill Downs in the third quarter valued at $ 28,000. Clearstead Advisors LLC acquired a new stake in Churchill Downs in the third quarter valued at $ 41,000. Spectrum Management Group LLC acquired a new stake in Churchill Downs in the third quarter valued at $ 43,000. FORA Capital LLC acquired a new stake in Churchill Downs in the second quarter valued at $ 40,000. Finally, MCF Advisors LLC increased its stake in Churchill Downs by 75.0% in the third quarter. MCF Advisors LLC now owns 525 shares of the company valued at $ 126,000 after acquiring 225 additional shares during the period. 71.02% of the shares are held by hedge funds and other institutional investors.

Churchill Downs Company Profile

Churchill Downs, Inc. operates as a provider of pari-mutuel horse racing, online horse racing betting and casino games. It operates in the following business sectors: racing, casino, online betting, businesses and other investments. The Races segment includes Churchill Downs Racecourse, Arlington Park Racecourse, Calder Racecourse and Fair Grounds Racecourse.

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