Churchill Downs Inc. (CHDN) Shares Bought by First Trust Advisors LP
First Trust Advisors LP raised its stake in shares of Churchill Downs Inc. (NASDAQ:CHDN) by 483.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,002 shares of the company’s stock after buying an additional 16,576 shares during the period. First Trust Advisors LP owned 0.12% of Churchill Downs worth $2,527,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Churchill Downs during the fourth quarter valued at about $15,248,000. Bank of New York Mellon Corp raised its position in shares of Churchill Downs by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 214,939 shares of the company’s stock valued at $27,160,000 after buying an additional 72,980 shares during the period. Teachers Advisors Inc. raised its position in shares of Churchill Downs by 338.4% in the first quarter. Teachers Advisors Inc. now owns 89,398 shares of the company’s stock valued at $13,220,000 after buying an additional 69,005 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Churchill Downs by 268.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 90,989 shares of the company’s stock valued at $11,497,000 after buying an additional 66,278 shares during the period. Finally, Emerald Advisers Inc. PA raised its position in shares of Churchill Downs by 283.5% in the second quarter. Emerald Advisers Inc. PA now owns 86,708 shares of the company’s stock valued at $10,956,000 after buying an additional 64,101 shares during the period. 72.12% of the stock is currently owned by institutional investors.
Churchill Downs Inc. (NASDAQ:CHDN) traded down 0.14% on Wednesday, reaching $148.44. 62,297 shares of the company traded hands. The stock has a market capitalization of $2.45 billion, a PE ratio of 30.33 and a beta of 0.95. Churchill Downs Inc. has a one year low of $118.76 and a one year high of $152.98. The firm has a 50 day moving average of $146.87 and a 200-day moving average of $136.93.
Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Thursday, August 4th. The company reported $4.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.56 by $0.55. The firm earned $438.50 million during the quarter, compared to the consensus estimate of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.10 earnings per share. On average, analysts anticipate that Churchill Downs Inc. will post $6.01 EPS for the current year.
Several research analysts have recently issued reports on CHDN shares. Zacks Investment Research lowered shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Gabelli raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, Telsey Advisory Group raised their target price on shares of Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Churchill Downs has a consensus rating of “Buy” and a consensus target price of $161.00.
In other Churchill Downs news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the transaction, the director now owns 194,235 shares of the company’s stock, valued at $28,649,662.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 19.05% of the company’s stock.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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