State Treasurer State of Michigan reduced its holdings in Churchill Downs, Inc. (NASDAQ:CHDN) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,700 shares of the company’s stock after selling 200 shares during the period. State Treasurer State of Michigan’s holdings in Churchill Downs were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of CHDN. Acadian Asset Management LLC lifted its stake in shares of Churchill Downs by 89.7% in the fourth quarter. Acadian Asset Management LLC now owns 213,914 shares of the company’s stock worth $49,775,000 after buying an additional 101,124 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Churchill Downs by 15.3% in the third quarter. Victory Capital Management Inc. now owns 355,575 shares of the company’s stock worth $73,320,000 after buying an additional 47,313 shares in the last quarter. Cypress Funds LLC lifted its stake in shares of Churchill Downs by 33.3% in the third quarter. Cypress Funds LLC now owns 162,000 shares of the company’s stock worth $33,404,000 after buying an additional 40,500 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Churchill Downs by 34.1% in the third quarter. Artemis Investment Management LLP now owns 97,534 shares of the company’s stock worth $20,119,000 after buying an additional 24,785 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Churchill Downs by 4.3% in the second quarter. State Street Corp now owns 427,609 shares of the company’s stock worth $78,379,000 after buying an additional 17,798 shares in the last quarter. 72.69% of the stock is currently owned by hedge funds and other institutional investors.
Churchill Downs, Inc. (CHDN) opened at $263.55 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs, Inc. has a 52 week low of $141.80 and a 52 week high of $264.30. The company has a market cap of $4,061.31, a PE ratio of 37.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.
Churchill Downs declared that its Board of Directors has approved a share repurchase program on Wednesday, November 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Churchill Downs news, Director Robert L. Evans sold 32,866 shares of Churchill Downs stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $265.00, for a total transaction of $8,709,490.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.44% of the stock is owned by insiders.
Several research firms have recently weighed in on CHDN. Jefferies Group began coverage on shares of Churchill Downs in a research note on Thursday, January 18th. They issued a “hold” rating and a $261.00 price target on the stock. Zacks Investment Research raised shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 price target on the stock in a research note on Tuesday, January 16th. Finally, BidaskClub raised shares of Churchill Downs from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $240.25.
TRADEMARK VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://ledgergazette.com/2018/02/18/state-treasurer-state-of-michigan-decreases-stake-in-churchill-downs-inc-chdn.html.
Churchill Downs 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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs, Inc. (NASDAQ:CHDN).
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.