First Trust Advisors LP Acquires 4,768 Shares of Churchill Downs, Incorporated (CHDN)
First Trust Advisors LP boosted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 54.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,565 shares of the company’s stock after purchasing an additional 4,768 shares during the quarter. First Trust Advisors LP owned about 0.08% of Churchill Downs, worth $2,797,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CHDN. Citigroup Inc. lifted its stake in shares of Churchill Downs, by 352.2% in the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after buying an additional 560 shares in the last quarter. Bruderman Asset Management LLC bought a new position in shares of Churchill Downs, in the second quarter worth approximately $161,000. LS Investment Advisors LLC lifted its stake in shares of Churchill Downs, by 19.8% in the second quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock worth $163,000 after buying an additional 147 shares in the last quarter. Strs Ohio lifted its stake in shares of Churchill Downs, by 150.0% in the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after buying an additional 600 shares in the last quarter. Finally, Sawgrass Asset Management LLC bought a new position in shares of Churchill Downs, in the second quarter worth approximately $203,000. Institutional investors and hedge funds own 74.17% of the company’s stock.
Several brokerages have recently issued reports on CHDN. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Telsey Advisory Group upped their target price on shares of Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 price objective on the stock in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $218.67.
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In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $198.25, for a total transaction of $991,250.00. Following the transaction, the director now owns 90,878 shares in the company, valued at $18,016,563.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.44% of the stock is owned by corporate insiders.
Churchill Downs, Incorporated (NASDAQ:CHDN) opened at $214.90 on Thursday. The firm has a market cap of $3,348.90, a P/E ratio of 30.97 and a beta of 0.89. Churchill Downs, Incorporated has a 52-week low of $141.00 and a 52-week high of $220.15. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.18. The company had revenue of $314.80 million for the quarter, compared to the consensus estimate of $308.43 million. Churchill Downs, had a net margin of 9.75% and a return on equity of 17.48%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. equities analysts expect that Churchill Downs, Incorporated will post 7.11 EPS for the current year.
The business also recently disclosed an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a dividend of $1.52 per share. This is an increase from Churchill Downs,’s previous annual dividend of $1.32. The ex-dividend date is Thursday, November 30th. This represents a yield of 0.73%. Churchill Downs,’s dividend payout ratio is 16.65%.
Churchill Downs, Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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