Goldman Sachs Group Inc. cut its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,645 shares of the company’s stock after selling 3,058 shares during the period. Goldman Sachs Group Inc.’s holdings in Churchill Downs were worth $4,339,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its position in Churchill Downs by 1.7% during the 4th quarter. BlackRock Inc. now owns 1,364,375 shares of the company’s stock valued at $317,491,000 after purchasing an additional 23,081 shares in the last quarter. Acadian Asset Management LLC raised its position in Churchill Downs by 89.7% during the 4th quarter. Acadian Asset Management LLC now owns 213,914 shares of the company’s stock valued at $49,775,000 after purchasing an additional 101,124 shares in the last quarter. Cypress Funds LLC raised its position in Churchill Downs by 13.0% during the 4th quarter. Cypress Funds LLC now owns 183,000 shares of the company’s stock valued at $42,584,000 after purchasing an additional 21,000 shares in the last quarter. Citadel Advisors LLC raised its position in Churchill Downs by 110.3% during the 4th quarter. Citadel Advisors LLC now owns 159,592 shares of the company’s stock valued at $37,137,000 after purchasing an additional 83,688 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Churchill Downs by 324.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 140,798 shares of the company’s stock valued at $32,764,000 after purchasing an additional 107,645 shares in the last quarter. 82.37% of the stock is owned by institutional investors and hedge funds.
In other Churchill Downs news, Director Richard L. Duchossois bought 2,080 shares of Churchill Downs stock in a transaction that occurred on Tuesday, April 3rd. The shares were bought at an average cost of $240.65 per share, with a total value of $500,552.00. Following the transaction, the director now directly owns 16,290 shares of the company’s stock, valued at approximately $3,920,188.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 dated Monday, February 12th. The shares were sold at an average price of $265.00, for a total value of $8,709,490.00. The disclosure for this sale can be found here. Over the last three months, insiders bought 11,805 shares of company stock valued at $3,002,583. Corporate insiders own 13.78% of the company’s stock.
CHDN has been the subject of several recent research reports. BidaskClub lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Zacks Investment Research lowered Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Jefferies Group initiated coverage on Churchill Downs in a research report on Thursday, January 18th. They issued a “hold” rating and a $261.00 price target for the company. Finally, Telsey Advisory Group initiated coverage on Churchill Downs in a research report on Tuesday, March 13th. They issued a “market perform” rating and a $265.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Churchill Downs has an average rating of “Buy” and an average price target of $254.25.
CHDN opened at $238.80 on Monday. The firm has a market capitalization of $3,220.93, a PE ratio of 40.61, a P/E/G ratio of 1.30 and a beta of 1.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs, Inc. has a 12 month low of $154.65 and a 12 month high of $279.45.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results 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 company had revenue of $179.00 million during the quarter, compared to the consensus estimate of $255.33 million. Churchill Downs had a return on equity of 16.80% and a net margin of 11.47%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. research analysts expect that Churchill Downs, Inc. will post 11.38 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/04/09/churchill-downs-inc-chdn-shares-sold-by-goldman-sachs-group-inc.html.
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.
Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs, Inc. (NASDAQ:CHDN).
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.