HL Financial Services LLC Lowers Position in Churchill Downs, Incorporated (CHDN)
HL Financial Services LLC reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 9.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,417 shares of the company’s stock after selling 1,030 shares during the period. HL Financial Services LLC’s holdings in Churchill Downs, were worth $1,909,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its position in Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares in the last quarter. Strs Ohio boosted its stake in shares of Churchill Downs, by 150.0% in the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after buying an additional 600 shares during the last quarter. Advisor Partners LLC acquired a new stake in shares of Churchill Downs, during the second quarter worth about $209,000. Van ECK Associates Corp boosted its stake in shares of Churchill Downs, by 6.3% in the first quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock worth $252,000 after buying an additional 94 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock worth $254,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.54% of the company’s stock.
Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) opened at 193.65 on Thursday. Churchill Downs, Incorporated has a 12 month low of $131.70 and a 12 month high of $196.00. The company has a market cap of $3.12 billion, a PE ratio of 26.47 and a beta of 0.88. The stock has a 50 day moving average of $184.86 and a 200-day moving average of $166.28.
Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. During the same quarter last year, the firm posted $4.11 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts forecast that Churchill Downs, Incorporated will post $6.72 earnings per share for the current year.
Churchill Downs, announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 25th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 99% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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A number of brokerages have recently issued reports on CHDN. Zacks Investment Research cut shares of Churchill Downs, from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Imperial Capital boosted their target price on shares of Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. BidaskClub raised shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Telsey Advisory Group cut shares of Churchill Downs, from an “outperform” rating to a “market perform” rating and set a $174.00 target price for the company. in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $191.25.
In other news, Director Richard L. Duchossois acquired 4,548 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average price of $164.95 per share, with a total value of $750,192.60. Following the acquisition, the director now owns 9,509 shares in the company, valued at approximately $1,568,509.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Alex Rankin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $164.17 per share, with a total value of $164,170.00. Following the acquisition, the director now owns 11,214 shares in the company, valued at approximately $1,841,002.38. The disclosure for this purchase can be found here. Company insiders own 18.44% of the company’s stock.
Churchill Downs, Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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