Legal & General Group Plc raised its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 32.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,417 shares of the company’s stock after buying an additional 2,066 shares during the period. Legal & General Group Plc owned approximately 0.05% of Churchill Downs, worth $1,336,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CHDN. LS Investment Advisors LLC raised its stake in shares of Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Churchill Downs, by 6.3% in the first quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock valued at $252,000 after buying an additional 94 shares during the last quarter. Profund Advisors LLC raised its position in shares of Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock valued at $254,000 after buying an additional 60 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Churchill Downs, by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,110 shares of the company’s stock worth $317,000 after buying an additional 150 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Churchill Downs, during the fourth quarter worth $331,000. Institutional investors own 73.94% of the company’s stock.
Churchill Downs, Incorporated (CHDN) traded down 0.29% during midday trading on Friday, reaching $188.05. The company had a trading volume of 68,075 shares. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 25.70 and a beta of 0.88. The firm has a 50-day moving average price of $186.72 and a 200-day moving average price of $168.52. Churchill Downs, Incorporated has a 52 week low of $131.70 and a 52 week high of $197.10.
Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.30. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The company had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $439.33 million. During the same quarter in the prior year, the company earned $4.11 EPS. Churchill Downs,’s revenue was up 3.1% compared to the same quarter last year. Analysts expect that Churchill Downs, Incorporated will post $6.78 EPS for the current fiscal year.
Churchill Downs, declared that its board has authorized a stock repurchase plan on Tuesday, April 25th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 99% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have recently weighed in on CHDN. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 price target for the company in a research report on Tuesday, August 1st. Imperial Capital reaffirmed a “buy” rating on shares of Churchill Downs, in a research report on Sunday, July 30th. Finally, Telsey Advisory Group increased their price target on Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $191.25.
Churchill Downs, Company 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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