Russell Investments Group Ltd. Boosts Stake in Churchill Downs, Inc. (CHDN)
Russell Investments Group Ltd. lifted its position in Churchill Downs, Inc. (NASDAQ:CHDN) by 155.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,409 shares of the company’s stock after buying an additional 13,025 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Churchill Downs worth $4,414,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of Churchill Downs by 352.2% during the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after purchasing an additional 560 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $161,000. Smithfield Trust Co. acquired a new stake in shares of Churchill Downs during the third quarter worth $175,000. Strs Ohio raised its position in shares of Churchill Downs by 150.0% during the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after purchasing an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $203,000. 72.50% of the stock is currently owned by institutional investors.
CHDN has been the topic of a number of recent analyst reports. Telsey Advisory Group boosted their target price on Churchill Downs from $196.00 to $209.00 and gave the stock a “market perform” rating in a research report on Thursday, October 12th. Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, BidaskClub raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd.
Shares of Churchill Downs, Inc. (NASDAQ CHDN) opened at $225.45 on Thursday. The stock has a market capitalization of $3,505.47, a price-to-earnings ratio of 32.42 and a beta of 0.92. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77. Churchill Downs, Inc. has a 52-week low of $141.00 and a 52-week high of $237.82.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.18. The company had revenue of $314.80 million for the quarter, compared to analyst estimates of $308.43 million. Churchill Downs had a return on equity of 17.48% and a net margin of 9.75%. Churchill Downs’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. research analysts anticipate that Churchill Downs, Inc. will post 6.95 EPS for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a dividend of $1.52 per share. This represents a yield of 0.73%. This is a positive change from Churchill Downs’s previous annual dividend of $1.32. The ex-dividend date of this dividend is Thursday, November 30th. Churchill Downs’s payout ratio is presently 19.17%.
Churchill Downs declared that its board has authorized a stock repurchase plan on Wednesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.