Churchill Downs, Inc. (CHDN) Shares Sold by Gamco Investors INC. ET AL

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Gamco Investors INC. ET AL trimmed its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,049 shares of the company’s stock after selling 9,768 shares during the period. Gamco Investors INC. ET AL’s holdings in Churchill Downs were worth $32,227,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of Churchill Downs by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock worth $91,525,000 after buying an additional 34,295 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Churchill Downs by 6,355.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 225,991 shares of the company’s stock valued at $1,238,000 after purchasing an additional 222,490 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Churchill Downs by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 207,251 shares of the company’s stock valued at $61,449,000 after purchasing an additional 2,427 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Churchill Downs by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 128,462 shares of the company’s stock valued at $38,087,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Churchill Downs in the 2nd quarter valued at $28,872,000. Institutional investors and hedge funds own 69.91% of the company’s stock.

NASDAQ:CHDN opened at $268.76 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 1.29 and a beta of 1.07. Churchill Downs, Inc. has a 1-year low of $211.16 and a 1-year high of $314.60.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.43). Churchill Downs had a net margin of 39.18% and a return on equity of 30.33%. The firm had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $208.87 million. During the same period in the previous year, the company earned $1.08 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Churchill Downs, Inc. will post 10.72 earnings per share for the current fiscal year.

The business also recently declared an annual dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be given a dividend of $1.63 per share. This is a boost from Churchill Downs’s previous annual dividend of $1.52. The ex-dividend date of this dividend is Thursday, December 6th. This represents a dividend yield of 0.6%. Churchill Downs’s dividend payout ratio (DPR) is presently 25.85%.

In related news, Director Richard L. Duchossois purchased 3,700 shares of Churchill Downs stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average price of $271.47 per share, with a total value of $1,004,439.00. Following the completion of the transaction, the director now owns 12,137 shares of the company’s stock, valued at approximately $3,294,831.39. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.78% of the company’s stock.

A number of equities analysts have weighed in on the stock. ValuEngine cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. BidaskClub cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Jefferies Financial Group set a $325.00 price objective on shares of Churchill Downs and gave the company a “hold” rating in a research report on Thursday, September 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $316.67.

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About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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