Nationwide Fund Advisors Raises Position in Churchill Downs, Incorporated (CHDN)
Nationwide Fund Advisors boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,852 shares of the company’s stock after buying an additional 335 shares during the quarter. Nationwide Fund Advisors owned approximately 0.18% of Churchill Downs, worth $5,289,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CHDN. LS Investment Advisors LLC lifted its stake in Churchill Downs, by 19.8% in the 2nd quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock valued at $163,000 after buying an additional 147 shares in the last quarter. Strs Ohio lifted its stake in Churchill Downs, by 150.0% in the 2nd quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $183,000 after buying an additional 600 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Churchill Downs, in the 2nd quarter valued at about $207,000. Advisor Partners LLC purchased a new position in Churchill Downs, in the 2nd quarter valued at about $209,000. Finally, Van ECK Associates Corp lifted its stake in Churchill Downs, by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock valued at $252,000 after buying an additional 94 shares in the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Telsey Advisory Group raised their price target on shares of Churchill Downs, from $182.00 to $196.00 and gave the company a “market perform” rating in a research note on Thursday, September 14th. BidaskClub raised shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 target price on the stock in a research note on Tuesday, August 1st. Finally, Imperial Capital reissued a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $206.33.
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In other Churchill Downs, news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $198.25, for a total value of $991,250.00. Following the sale, the director now owns 90,878 shares of the company’s stock, valued at $18,016,563.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 207.20 on Thursday. Churchill Downs, Incorporated has a 1-year low of $131.70 and a 1-year high of $208.93. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 28.32 and a beta of 0.86. The firm has a 50-day moving average of $198.29 and a 200-day moving average of $179.75.
Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.30. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. During the same quarter in the prior year, the firm earned $4.11 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Churchill Downs, Incorporated will post $6.75 EPS for the current year.
About Churchill Downs,
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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