Churchill Downs, Inc. (NASDAQ:CHDN) Director Daniel P. Harrington sold 35,000 shares of Churchill Downs stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $271.20, for a total value of $9,492,000.00. Following the transaction, the director now owns 15,444 shares of the company’s stock, valued at $4,188,412.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Churchill Downs, Inc. (NASDAQ CHDN) traded up $0.30 during trading on Thursday, hitting $268.60. The stock had a trading volume of 62,041 shares, compared to its average volume of 149,518. The stock has a market capitalization of $3,619.66, a PE ratio of 30.52, a PEG ratio of 1.46 and a beta of 1.02. Churchill Downs, Inc. has a 1-year low of $151.50 and a 1-year high of $279.45. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.57 and a quick ratio of 0.57.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.44). The business had revenue of $179.00 million during the quarter, compared to analysts’ expectations of $255.33 million. Churchill Downs had a net margin of 11.47% and a return on equity of 16.80%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 earnings per share. equities analysts forecast that Churchill Downs, Inc. will post 11.38 EPS for the current fiscal year.
Churchill Downs announced that its board has approved a share buyback plan on Wednesday, November 29th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 price target for the company in a research report on Tuesday, January 16th. BidaskClub cut Churchill Downs from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Jefferies Group assumed coverage on Churchill Downs in a research report on Thursday, January 18th. They set a “hold” rating and a $261.00 price target for the company. Finally, Telsey Advisory Group assumed coverage on Churchill Downs in a research report on Tuesday. They issued a “market perform” rating and a $265.00 price objective for the company. Two equities 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 a consensus rating of “Buy” and an average target price of $254.25.
Several institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its position in shares of Churchill Downs by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,855 shares of the company’s stock valued at $1,828,000 after buying an additional 205 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Churchill Downs by 5.1% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,755 shares of the company’s stock valued at $1,106,000 after buying an additional 230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Churchill Downs by 60.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 695 shares of the company’s stock valued at $162,000 after buying an additional 262 shares in the last quarter. Strs Ohio boosted its stake in shares of Churchill Downs by 30.0% in the fourth quarter. Strs Ohio now owns 1,300 shares of the company’s stock worth $302,000 after acquiring an additional 300 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Churchill Downs by 17.8% in the third quarter. Sei Investments Co. now owns 2,014 shares of the company’s stock worth $415,000 after acquiring an additional 304 shares during the last quarter. Institutional investors and hedge funds own 82.26% of the company’s stock.
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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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
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