Bessemer Group Inc. Reduces Holdings in Churchill Downs, Incorporated (CHDN)

Bessemer Group Inc. lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,735 shares of the company’s stock after selling 1,006 shares during the period. Bessemer Group Inc. owned 0.10% of Churchill Downs, worth $3,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Churchill Downs, by 1.6% during the 2nd quarter. SG Americas Securities LLC now owns 4,233 shares of the company’s stock valued at $776,000 after purchasing an additional 67 shares during the last quarter. K.J. Harrison & Partners Inc boosted its holdings in shares of Churchill Downs, by 2.3% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 3,070 shares of the company’s stock valued at $563,000 after purchasing an additional 70 shares during the last quarter. Comerica Bank lifted its holdings in shares of Churchill Downs, by 1.2% in the 2nd quarter. Comerica Bank now owns 7,622 shares of the company’s stock valued at $1,407,000 after acquiring an additional 90 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Churchill Downs, by 3.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,200 shares of the company’s stock valued at $587,000 after acquiring an additional 100 shares during the last quarter. Finally, State Treasurer State of Michigan lifted its holdings in shares of Churchill Downs, by 2.0% in the 2nd quarter. State Treasurer State of Michigan now owns 5,100 shares of the company’s stock valued at $935,000 after acquiring an additional 100 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert L. Evans sold 5,000 shares of the 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 directly owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.44% of the company’s stock.

A number of brokerages recently commented on CHDN. Imperial Capital reaffirmed a “buy” rating on shares of Churchill Downs, in a report on Sunday, July 30th. BidaskClub downgraded shares of Churchill Downs, from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Telsey Advisory Group increased their price target on shares of Churchill Downs, from $196.00 to $209.00 and gave the company a “market perform” rating in a report on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 price target for the company in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $218.67.

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Churchill Downs, Incorporated (NASDAQ:CHDN) opened at $212.40 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs, Incorporated has a 1-year low of $137.01 and a 1-year high of $218.05. The company has a market cap of $3,276.40, a PE ratio of 30.30 and a beta of 0.89.

Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.18. Churchill Downs, had a net margin of 9.75% and a return on equity of 17.48%. The firm had revenue of $314.80 million during the quarter, compared to the consensus estimate of $308.43 million. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. research analysts expect that Churchill Downs, Incorporated will post 6.99 earnings per share for the current year.

The company also recently disclosed an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a $1.52 dividend. This is a positive change from Churchill Downs,’s previous annual dividend of $1.32. This represents a yield of 0.73%. The ex-dividend date is Thursday, November 30th. Churchill Downs,’s dividend payout ratio is 16.65%.

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

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