ING Groep NV Invests $276,000 in Churchill Downs, Incorporated (NASDAQ:CHDN)
ING Groep NV acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,504 shares of the company’s stock, valued at approximately $276,000.
Other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of Churchill Downs, by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 108,693 shares of the company’s stock worth $16,353,000 after buying an additional 3,779 shares in the last quarter. BlackRock Inc. increased its position in shares of Churchill Downs, by 23,504.2% in the first quarter. BlackRock Inc. now owns 1,301,301 shares of the company’s stock worth $206,713,000 after buying an additional 1,295,788 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Churchill Downs, by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,432 shares of the company’s stock worth $704,000 after buying an additional 100 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Churchill Downs, during the fourth quarter worth approximately $331,000. Finally, Profund Advisors LLC increased its position in shares of Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock worth $254,000 after buying an additional 60 shares in the last quarter. 74.54% of the stock is owned by institutional investors and hedge funds.
Shares of Churchill Downs, Incorporated (NASDAQ CHDN) traded up 0.13% during midday trading on Friday, reaching $193.50. The company’s stock had a trading volume of 10,548 shares. The company’s 50-day moving average price is $185.14 and its 200 day moving average price is $166.47. Churchill Downs, Incorporated has a 1-year low of $131.70 and a 1-year high of $196.00. The firm has a market capitalization of $3.12 billion, a PE ratio of 26.45 and a beta of 0.88.
Churchill Downs, (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 26th. The company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.51 by $0.30. The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.11 EPS. On average, equities research analysts forecast that Churchill Downs, Incorporated will post $6.78 earnings per share for the current year.
Churchill Downs, announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 25th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 99% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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A number of brokerages recently issued reports on CHDN. Telsey Advisory Group upped their price target on Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Churchill Downs, from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Imperial Capital upped their price target on Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $191.25.
In related news, Director Richard L. Duchossois purchased 4,548 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $164.95 per share, with a total value of $750,192.60. Following the acquisition, the director now owns 9,509 shares in the company, valued at approximately $1,568,509.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Alex Rankin purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the acquisition, the director now owns 11,214 shares in the company, valued at approximately $1,841,002.38. The disclosure for this purchase can be found here. 18.44% of the stock is currently owned by company insiders.
Churchill Downs, Company 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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