Eagle Asset Management Inc. trimmed its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,869 shares of the company’s stock after selling 4,672 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.45% of Churchill Downs worth $14,466,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position 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 valued at $73,320,000 after acquiring an additional 47,313 shares in the last quarter. Cypress Funds LLC lifted its position 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 valued at $33,404,000 after acquiring an additional 40,500 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Churchill Downs by 202.0% in the second quarter. Retirement Systems of Alabama now owns 48,038 shares of the company’s stock valued at $8,805,000 after acquiring an additional 32,129 shares in the last quarter. Artemis Investment Management LLP lifted its position 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 valued at $20,119,000 after acquiring an additional 24,785 shares in the last quarter. Finally, State Street Corp lifted its position 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 valued at $78,379,000 after acquiring an additional 17,798 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.
Several analysts have recently issued reports on the company. Telsey Advisory Group upped their price objective on Churchill Downs from $196.00 to $209.00 and gave the company a “market perform” rating in a research report on Thursday, October 12th. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded Churchill Downs from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $218.67.
Shares of Churchill Downs, Incorporated (NASDAQ CHDN) opened at $233.20 on Friday. 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 12-month low of $141.00 and a 12-month high of $235.70. The stock has a market capitalization of $3,625.02, a price-to-earnings ratio of 33.52 and a beta of 0.91.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.18. Churchill Downs had a return on equity of 17.48% and a net margin of 9.75%. The business had revenue of $314.80 million for the quarter, compared to the consensus estimate of $308.43 million. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. sell-side analysts anticipate that Churchill Downs, Incorporated will post 7.11 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be paid 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 presently 19.17%.
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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 six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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