Robert L. Evans Sells 5,000 Shares of Churchill Downs Inc. (CHDN) Stock
Churchill Downs Inc. (NASDAQ:CHDN) Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $155.07, for a total transaction of $775,350.00. Following the completion of the sale, the director now directly owns 164,194 shares of the company’s stock, valued at approximately $25,461,563.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Churchill Downs Inc. (NASDAQ:CHDN) opened at 155.80 on Wednesday. The firm has a market cap of $2.55 billion, a P/E ratio of 29.92 and a beta of 0.69. Churchill Downs Inc. has a 12-month low of $118.76 and a 12-month high of $157.15. The firm’s 50-day moving average price is $142.70 and its 200 day moving average price is $137.65.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.43. The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $301.86 million. Churchill Downs had a return on equity of 13.60% and a net margin of 6.82%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. On average, equities analysts expect that Churchill Downs Inc. will post $5.68 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 2nd will be given a dividend of $1.32 per share. The ex-dividend date is Wednesday, November 30th. This represents a dividend yield of 0.97%. This is a positive change from Churchill Downs’s previous annual dividend of $1.15. Churchill Downs’s dividend payout ratio (DPR) is currently 22.03%.
CHDN has been the topic of several research reports. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $167.00 price target on the stock in a research report on Wednesday, October 5th. Telsey Advisory Group dropped their price target on shares of Churchill Downs from $176.00 to $172.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price target on the stock. Imperial Capital reiterated an “outperform” rating and issued a $165.00 price target (up from $145.00) on shares of Churchill Downs in a research report on Friday, October 14th. Finally, Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Churchill Downs presently has an average rating of “Buy” and a consensus price target of $159.33.
Several large investors have recently added to or reduced their stakes in CHDN. Victory Capital Management Inc. acquired a new stake in Churchill Downs during the third quarter worth approximately $123,000. Bruderman Asset Management LLC acquired a new stake in Churchill Downs during the second quarter worth approximately $140,000. Advantus Capital Management Inc acquired a new stake in Churchill Downs during the second quarter worth approximately $184,000. Genesee Valley Trust Co. acquired a new stake in Churchill Downs during the third quarter worth approximately $200,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Churchill Downs during the second quarter worth approximately $202,000. 69.98% of the stock is currently owned by institutional investors.
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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