Churchill Downs, Inc. (NASDAQ:CHDN) Director Daniel P. Harrington sold 35,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $271.20, for a total transaction of $9,492,000.00. Following the sale, the director now owns 15,444 shares in the company, valued at $4,188,412.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Churchill Downs, Inc. (NASDAQ:CHDN) traded up $0.35 during mid-day trading on Wednesday, hitting $268.30. 112,972 shares of the stock traded hands, compared to its average volume of 151,223. The company has a market cap of $3,697.34, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.02. Churchill Downs, Inc. has a 12-month low of $151.50 and a 12-month high of $279.45. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.76.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.44). The firm had revenue of $179.00 million for the quarter, compared to the consensus estimate of $255.33 million. Churchill Downs had a net margin of 11.47% and a return on equity of 16.80%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. equities analysts expect that Churchill Downs, Inc. will post 11.38 earnings per share for the current year.
Churchill Downs announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 29th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts have recently commented on CHDN shares. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 price objective on the stock in a research report on Tuesday, January 16th. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Jefferies Group started coverage on shares of Churchill Downs in a research report on Thursday, January 18th. They set a “hold” rating and a $261.00 price objective on the stock. Finally, Telsey Advisory Group started coverage on shares of Churchill Downs in a research report on Tuesday. They set a “market perform” rating and a $265.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $254.25.
A number of hedge funds and other institutional investors have recently made changes to their positions in CHDN. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Churchill Downs by 60.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 695 shares of the company’s stock valued at $162,000 after acquiring an additional 262 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in Churchill Downs in the 4th quarter valued at $202,000. Renaissance Technologies LLC bought a new stake in Churchill Downs in the 4th quarter valued at $204,000. Aviance Capital Partners LLC bought a new stake in Churchill Downs in the 3rd quarter valued at $206,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Churchill Downs in the 3rd quarter valued at $206,000. Institutional investors 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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