Fmr LLC reduced its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,700 shares of the company’s stock after selling 131,068 shares during the period. Fmr LLC owned 2.59% of Churchill Downs worth $103,983,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. LPL Financial LLC bought a new position in shares of Churchill Downs during the first quarter valued at about $503,000. Legal & General Group Plc lifted its position in shares of Churchill Downs by 3.6% during the first quarter. Legal & General Group Plc now owns 12,179 shares of the company’s stock valued at $2,972,000 after purchasing an additional 424 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Churchill Downs by 8,402.9% during the first quarter. Royal Bank of Canada now owns 8,673 shares of the company’s stock valued at $2,117,000 after purchasing an additional 8,571 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Churchill Downs by 232.7% during the second quarter. Bank of Montreal Can now owns 1,078 shares of the company’s stock valued at $320,000 after purchasing an additional 754 shares in the last quarter. Finally, Smithfield Trust Co. lifted its position in shares of Churchill Downs by 351.3% during the second quarter. Smithfield Trust Co. now owns 3,249 shares of the company’s stock valued at $963,000 after purchasing an additional 2,529 shares in the last quarter. 69.91% of the stock is currently owned by institutional investors.
CHDN has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Jefferies Financial Group set a $317.00 price objective on shares of Churchill Downs and gave the stock a “hold” rating in a report on Monday, August 6th. BidaskClub upgraded shares of Churchill Downs from a “strong sell” rating to a “sell” rating in a report on Saturday, September 15th. Finally, ValuEngine downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Five investment analysts have rated the stock with a hold rating, Churchill Downs has an average rating of “Hold” and an average price target of $316.67.
NASDAQ CHDN opened at $274.20 on Friday. Churchill Downs, Inc. has a 52-week low of $211.20 and a 52-week high of $314.60. 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 cap of $3.65 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.25 and a beta of 1.07.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.43). Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The company had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $208.87 million. During the same quarter last year, the business posted $1.08 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Churchill Downs, Inc. will post 10.72 EPS for the current year.
The business also recently disclosed an annual dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be issued a dividend of $1.63 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $1.52. Churchill Downs’s dividend payout ratio (DPR) is 25.85%.
In related news, Director Richard L. Duchossois acquired 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the completion of the acquisition, the director now owns 12,137 shares of the company’s stock, valued at approximately $3,294,831.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.78% of the company’s stock.
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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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