Churchill Downs, Incorporated (NASDAQ:CHDN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
A number of other equities research analysts have also weighed in on the company. Telsey Advisory Group lifted their price objective on Churchill Downs, from $182.00 to $196.00 and gave the company a “market perform” rating in a report on Thursday, September 14th. BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Imperial Capital reaffirmed a “buy” rating on shares of Churchill Downs, in a report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $206.33.
Shares of Churchill Downs, (NASDAQ CHDN) traded down 0.51% during trading on Tuesday, reaching $206.75. The company’s stock had a trading volume of 47,309 shares. The firm has a market capitalization of $3.33 billion, a P/E ratio of 28.26 and a beta of 0.86. The company has a 50 day moving average price of $199.88 and a 200 day moving average price of $181.12. Churchill Downs, has a 52 week low of $131.70 and a 52 week high of $209.05.
Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The company had revenue of $451.90 million for the quarter, compared to analyst estimates of $439.33 million. During the same quarter in the previous year, the company earned $4.11 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that Churchill Downs, will post $6.75 EPS for the current fiscal year.
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In other news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $198.25, for a total transaction of $991,250.00. Following the sale, the director now owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.44% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Churchill Downs, by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,306,153 shares of the company’s stock worth $239,419,000 after acquiring an additional 4,852 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Churchill Downs, by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock worth $170,242,000 after acquiring an additional 47,702 shares in the last quarter. FMR LLC boosted its stake in shares of Churchill Downs, by 0.3% during the 2nd quarter. FMR LLC now owns 740,145 shares of the company’s stock worth $135,669,000 after acquiring an additional 2,474 shares in the last quarter. State Street Corp boosted its stake in shares of Churchill Downs, by 4.3% during the 2nd quarter. State Street Corp now owns 427,609 shares of the company’s stock worth $78,379,000 after acquiring an additional 17,798 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Churchill Downs, by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 308,262 shares of the company’s stock worth $56,504,000 after acquiring an additional 46,047 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors and hedge funds.
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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