Churchill Downs, Inc. (NASDAQ:CHDN) Director Richard L. Duchossois acquired 1,900 shares of Churchill Downs stock in a transaction that occurred on Friday, November 9th. The shares were purchased at an average price of $265.83 per share, for a total transaction of $505,077.00. Following the transaction, the director now directly owns 8,550 shares in the company, valued at $2,272,846.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
CHDN stock traded down $9.20 during midday trading on Friday, reaching $265.00. 113,769 shares of the stock were exchanged, compared to its average volume of 141,516. The firm has a market capitalization of $3.75 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.28 and a beta of 1.07. Churchill Downs, Inc. has a 52 week low of $211.20 and a 52 week high of $314.60. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.71.
Churchill Downs (NASDAQ:CHDN) last issued 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). The firm had revenue of $221.30 million for the quarter, compared to the consensus estimate of $208.87 million. Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, equities research analysts expect that Churchill Downs, Inc. will post 10.82 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHDN. Advisors Asset Management Inc. grew its position in shares of 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 buying an additional 222,490 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Churchill Downs by 416.9% in the 3rd quarter. Prudential Financial Inc. now owns 140,755 shares of the company’s stock valued at $39,088,000 after buying an additional 113,524 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Churchill Downs in the 2nd quarter valued at about $28,872,000. BlackRock Inc. grew its position in shares of Churchill Downs by 3.3% in the 3rd quarter. BlackRock Inc. now owns 1,317,957 shares of the company’s stock valued at $365,998,000 after buying an additional 42,497 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Churchill Downs by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock valued at $91,525,000 after buying an additional 34,295 shares during the last quarter. Hedge funds and other institutional investors own 69.91% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, Jefferies Financial Group set a $325.00 price objective on Churchill Downs and gave the stock a “hold” rating in a research report on Thursday, September 20th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $316.67.
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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