Churchill Downs Inc. (CHDN) Stake Raised by Advisors Asset Management Inc.
Advisors Asset Management Inc. raised its position in Churchill Downs Inc. (NASDAQ:CHDN) by 14.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,401 shares of the company’s stock after buying an additional 812 shares during the period. Advisors Asset Management Inc.’s holdings in Churchill Downs were worth $809,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CHDN. Geode Capital Management LLC increased its stake in shares of Churchill Downs by 7.5% in the first quarter. Geode Capital Management LLC now owns 91,320 shares of the company’s stock worth $13,504,000 after buying an additional 6,339 shares during the period. UBS Group AG increased its stake in shares of Churchill Downs by 26.8% in the first quarter. UBS Group AG now owns 6,854 shares of the company’s stock worth $1,014,000 after buying an additional 1,450 shares during the period. Credit Agricole S A bought a new stake in shares of Churchill Downs during the first quarter worth approximately $2,514,000. Landscape Capital Management L.L.C. increased its stake in shares of Churchill Downs by 16.0% in the first quarter. Landscape Capital Management L.L.C. now owns 5,199 shares of the company’s stock worth $769,000 after buying an additional 719 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in shares of Churchill Downs during the first quarter worth approximately $104,000. 72.12% of the stock is owned by institutional investors and hedge funds.
Churchill Downs Inc. (NASDAQ:CHDN) traded down 1.299% during mid-day trading on Friday, hitting $147.835. The stock had a trading volume of 31,895 shares. The company has a market cap of $2.44 billion, a P/E ratio of 30.207 and a beta of 0.95. The company has a 50-day moving average price of $147.86 and a 200 day moving average price of $137.11. Churchill Downs Inc. has a 1-year low of $118.76 and a 1-year high of $152.98.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.55. The business earned $438.50 million during the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. Churchill Downs’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.10 earnings per share. Equities research analysts forecast that Churchill Downs Inc. will post $6.01 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Churchill Downs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Telsey Advisory Group increased their price objective on Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research report on Thursday. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Gabelli upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $160.80.
In related news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $148.75, for a total value of $743,750.00. Following the completion of the sale, the director now owns 189,235 shares of the company’s stock, valued at $28,148,706.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.05% of the stock is currently owned by corporate insiders.
Churchill Downs Company Profile
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.