Cypress Funds LLC boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 33.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,000 shares of the company’s stock after purchasing an additional 40,500 shares during the period. Churchill Downs, comprises 6.8% of Cypress Funds LLC’s holdings, making the stock its 7th biggest holding. Cypress Funds LLC owned approximately 1.05% of Churchill Downs, worth $33,404,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Churchill Downs, by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,306,153 shares of the company’s stock valued at $239,419,000 after purchasing an additional 4,852 shares during the last quarter. Vanguard Group Inc. grew its holdings in Churchill Downs, by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock valued at $170,242,000 after purchasing an additional 47,702 shares during the last quarter. FMR LLC grew its holdings in Churchill Downs, by 0.3% during the 2nd quarter. FMR LLC now owns 740,145 shares of the company’s stock valued at $135,669,000 after purchasing an additional 2,474 shares during the last quarter. State Street Corp grew its holdings in Churchill Downs, by 4.3% during the 2nd quarter. State Street Corp now owns 427,609 shares of the company’s stock valued at $78,379,000 after purchasing an additional 17,798 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Churchill Downs, by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 355,575 shares of the company’s stock valued at $73,320,000 after purchasing an additional 47,313 shares during the last quarter. Institutional investors own 74.08% of the company’s stock.
Shares of Churchill Downs, Incorporated (CHDN) traded up $1.80 during mid-day trading on Thursday, reaching $215.50. 119,600 shares of the company’s stock were exchanged, compared to its average volume of 71,020. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $3,296.46, a P/E ratio of 30.49 and a beta of 0.89. Churchill Downs, Incorporated has a twelve month low of $141.00 and a twelve month high of $218.05.
Churchill Downs, (NASDAQ:CHDN) last issued its earnings results on Wednesday, November 1st. The company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.18. The business had revenue of $314.80 million for the quarter, compared to the consensus estimate of $308.43 million. Churchill Downs, had a net margin of 9.75% and a return on equity of 17.48%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. analysts expect that Churchill Downs, Incorporated will post 6.99 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be paid a $1.52 dividend. This is an increase 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 currently 16.65%.
Several brokerages recently commented on CHDN. Zacks Investment Research upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating and set a $239.00 price target on the stock in a report on Wednesday, November 8th. Telsey Advisory Group upped their target price on shares of Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Imperial Capital upped their target price on shares of Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $218.67.
In other Churchill Downs, news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $195.00, for a total value of $975,000.00. Following the transaction, the director now directly owns 95,878 shares in the company, valued at approximately $18,696,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.44% of the stock is owned by corporate insiders.
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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