Churchill Downs, Inc. (NASDAQ:CHDN) Director Richard L. Duchossois purchased 3,700 shares of Churchill Downs stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the acquisition, the director now owns 12,137 shares in the company, valued at $3,294,831.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CHDN opened at $268.76 on Wednesday. The stock has a market capitalization of $3.74 billion, a P/E ratio of 45.71, a P/E/G ratio of 1.29 and a beta of 1.07. Churchill Downs, Inc. has a 12-month low of $211.16 and a 12-month high of $314.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.09 and a current ratio of 1.09.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.43). The company had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $208.87 million. Churchill Downs had a net margin of 39.18% and a return on equity of 30.33%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. Analysts expect that Churchill Downs, Inc. will post 10.72 earnings per share for the current year.
The business also recently disclosed an annual dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be issued a $1.63 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $1.52. This represents a yield of 0.6%. The ex-dividend date is Thursday, December 6th. Churchill Downs’s payout ratio is 25.85%.
CHDN has been the topic of several analyst reports. Zacks Investment Research lowered Churchill Downs from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub upgraded Churchill Downs from a “strong sell” rating to a “sell” rating in a report on Saturday, September 15th. Jefferies Financial Group set a $317.00 price target on Churchill Downs and gave the stock a “hold” rating in a report on Monday, August 6th. Finally, ValuEngine lowered Churchill Downs from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Churchill Downs currently has an average rating of “Hold” and an average price target of $316.67.
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new stake in Churchill Downs in the 2nd quarter valued at about $119,000. Fort L.P. purchased a new stake in Churchill Downs in the 2nd quarter valued at about $120,000. Stratos Wealth Partners LTD. purchased a new stake in Churchill Downs in the 3rd quarter valued at about $143,000. Robeco Institutional Asset Management B.V. purchased a new stake in Churchill Downs in the 2nd quarter valued at about $203,000. Finally, Brown Advisory Inc. purchased a new stake in Churchill Downs in the 2nd quarter valued at about $205,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.
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Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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