Telsey Advisory Group initiated coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research report report published on Tuesday, The Fly reports. The brokerage issued a market perform rating on the stock.
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Churchill Downs from a hold rating to a buy rating in a research report on Saturday, December 30th. Zacks Investment Research downgraded shares of Churchill Downs from a strong-buy rating to a hold rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group initiated coverage on shares of Churchill Downs in a research report on Thursday, January 18th. They issued a hold rating and a $261.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $240.25.
Shares of Churchill Downs (NASDAQ:CHDN) opened at $267.95 on Tuesday. Churchill Downs has a 52 week low of $151.15 and a 52 week high of $279.45. The firm has a market cap of $3,697.34, a P/E ratio of 30.48, a P/E/G ratio of 1.49 and a beta of 1.02. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.76.
Churchill Downs announced that its Board of Directors has approved a share buyback plan on Wednesday, November 29th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Richard L. Duchossois acquired 3,680 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were bought at an average cost of $271.85 per share, with a total value of $1,000,408.00. Following the transaction, the director now owns 16,290 shares in the company, valued at approximately $4,428,436.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Evans sold 32,866 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $265.00, for a total transaction of $8,709,490.00. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $3,323,000. Millennium Management LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $2,943,000. Teachers Advisors LLC boosted its holdings in shares of Churchill Downs by 3.5% in the 4th quarter. Teachers Advisors LLC now owns 114,171 shares of the company’s stock valued at $26,568,000 after buying an additional 3,842 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Churchill Downs by 81.6% in the 4th quarter. Raymond James & Associates now owns 2,403 shares of the company’s stock valued at $559,000 after buying an additional 1,080 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Churchill Downs by 11.5% in the 4th quarter. Guggenheim Capital LLC now owns 50,421 shares of the company’s stock valued at $11,734,000 after buying an additional 5,197 shares in 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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