Artemis Investment Management LLP lessened its holdings in Churchill Downs, Inc. (NASDAQ:CHDN) by 10.9% during the 3rd quarter, Holdings Channel reports. The firm owned 292,537 shares of the company’s stock after selling 35,681 shares during the period. Artemis Investment Management LLP’s holdings in Churchill Downs were worth $81,201,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CHDN. Advisors Asset Management Inc. lifted its stake in shares of Churchill Downs by 6,355.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 225,991 shares of the company’s stock valued at $1,238,000 after purchasing an additional 222,490 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Churchill Downs by 416.9% in the 3rd quarter. Prudential Financial Inc. now owns 140,755 shares of the company’s stock valued at $39,088,000 after purchasing an additional 113,524 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Churchill Downs in the 2nd quarter valued at $28,872,000. Acadian Asset Management LLC lifted its stake in shares of Churchill Downs by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock valued at $91,525,000 after purchasing an additional 34,295 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Churchill Downs by 74.7% in the 2nd quarter. Bank of America Corp DE now owns 45,384 shares of the company’s stock valued at $13,457,000 after purchasing an additional 19,409 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

CHDN opened at $265.00 on Monday. Churchill Downs, Inc. has a 12-month low of $213.70 and a 12-month high of $314.60. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.71. The stock has a market cap of $3.59 billion, a P/E ratio of 45.07, a PEG ratio of 1.22 and a beta of 1.07.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.43). Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The firm had revenue of $221.30 million for the quarter, compared to analyst estimates of $208.87 million. During the same period in the previous year, the company posted $1.08 EPS. Churchill Downs’s revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that Churchill Downs, Inc. will post 10.82 earnings per share for the current year.

The company also recently announced an annual dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be paid a dividend of $1.63 per share. This is a positive change from Churchill Downs’s previous annual dividend of $1.52. The ex-dividend date of this dividend is Thursday, December 6th. This represents a yield of 0.6%. Churchill Downs’s dividend payout ratio is presently 25.85%.

Several brokerages have recently commented on CHDN. Telsey Advisory Group decreased their price target on Churchill Downs from $290.00 to $280.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 14th. Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. BidaskClub lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. ValuEngine lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Jefferies Financial Group set a $325.00 target price on Churchill Downs and gave the stock a “hold” rating in a research note on Thursday, September 20th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, Churchill Downs has a consensus rating of “Hold” and an average target price of $313.33.

In related news, Director Richard L. Duchossois purchased 1,900 shares of Churchill Downs stock in a transaction on Friday, November 9th. The shares were bought at an average price of $265.83 per share, with a total value of $505,077.00. Following the transaction, the director now directly owns 8,550 shares of the company’s stock, valued at $2,272,846.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Duchossois purchased 3,700 shares of Churchill Downs stock in a transaction on Tuesday, November 6th. The stock was bought at an average cost of $271.47 per share, for a total transaction of $1,004,439.00. Following the transaction, the director now directly owns 12,137 shares in the company, valued at $3,294,831.39. The disclosure for this purchase can be found here. 13.78% of the stock is currently owned by corporate insiders.

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About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

Read More: Stock Split

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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