Russell Investments Group Ltd. Reduces Position in Churchill Downs, Inc. (NASDAQ:CHDN)
Russell Investments Group Ltd. lowered its position in Churchill Downs, Inc. (NASDAQ:CHDN) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,241 shares of the company’s stock after selling 1,794 shares during the quarter. Russell Investments Group Ltd. owned 0.26% of Churchill Downs worth $9,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in CHDN. Stock Yards Bank & Trust Co. boosted its holdings in shares of Churchill Downs by 2.0% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 10,400 shares of the company’s stock worth $2,888,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Churchill Downs by 6.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the company’s stock worth $916,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Churchill Downs by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 7,896 shares of the company’s stock worth $2,341,000 after purchasing an additional 239 shares in the last quarter. HL Financial Services LLC lifted its holdings in shares of Churchill Downs by 2.4% in the 2nd quarter. HL Financial Services LLC now owns 11,307 shares of the company’s stock worth $3,353,000 after purchasing an additional 263 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its holdings in shares of Churchill Downs by 6.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 5,680 shares of the company’s stock worth $1,684,000 after purchasing an additional 350 shares in the last quarter. 70.45% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on CHDN. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. ValuEngine raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Jefferies Financial Group set a $325.00 price target on Churchill Downs and gave the company a “hold” rating in a research report on Thursday, September 20th. They noted that the move was a valuation call. Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Telsey Advisory Group decreased their target price on Churchill Downs from $290.00 to $280.00 and set a “market perform” rating for the company in a research report on Wednesday, November 14th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Churchill Downs presently has a consensus rating of “Buy” and an average price target of $303.33.
Shares of Churchill Downs are scheduled to split on the morning of Monday, January 28th. The 3-1 split was announced on Wednesday, October 31st. The newly issued shares will be payable to shareholders after the closing bell on Friday, January 25th.
Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 31st. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.43). Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $208.87 million. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts predict that Churchill Downs, Inc. will post 10.82 EPS for the current year.
The business also recently announced an annual dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 7th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 6th. This represents a yield of 0.6%. This is an increase from Churchill Downs’s previous annual dividend of $1.52. Churchill Downs’s dividend payout ratio (DPR) is currently 27.72%.
In other Churchill Downs news, Director Richard L. Duchossois purchased 3,700 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the transaction, the director now owns 12,137 shares in the company, valued at approximately $3,294,831.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard L. Duchossois acquired 1,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were purchased at an average cost of $265.83 per share, for a total transaction of $505,077.00. Following the completion of the acquisition, the director now owns 8,550 shares in the company, valued at approximately $2,272,846.50. The disclosure for this purchase can be found here. 13.78% of the stock is owned by company insiders.
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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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