Park National Corp OH continued to hold its position in Churchill Downs, Incorporated (NASDAQ:CHDN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the company’s stock at the end of the second quarter. Park National Corp OH’s holdings in Churchill Downs, were worth $275,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Churchill Downs, by 23,504.2% in the first quarter. BlackRock Inc. now owns 1,301,301 shares of the company’s stock worth $206,713,000 after buying an additional 1,295,788 shares during the period. Vanguard Group Inc. increased its position in Churchill Downs, by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock worth $170,242,000 after buying an additional 47,702 shares in the last quarter. FMR LLC increased its position in Churchill Downs, by 25.7% in the first quarter. FMR LLC now owns 737,671 shares of the company’s stock worth $117,179,000 after buying an additional 150,623 shares in the last quarter. State Street Corp increased its position in Churchill Downs, by 2.5% in the first quarter. State Street Corp now owns 409,811 shares of the company’s stock worth $65,104,000 after buying an additional 9,864 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Churchill Downs, by 31,916.5% in the first quarter. Victory Capital Management Inc. now owns 262,215 shares of the company’s stock worth $41,653,000 after buying an additional 261,396 shares in the last quarter. Institutional investors own 69.11% of the company’s stock.
Churchill Downs, Incorporated (NASDAQ CHDN) traded down 1.29% during trading on Friday, reaching $187.40. The company’s stock had a trading volume of 70,350 shares. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 25.61 and a beta of 0.88. The stock’s 50-day moving average is $182.09 and its 200 day moving average is $163.53. Churchill Downs, Incorporated has a 52-week low of $129.85 and a 52-week high of $194.75.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. During the same period last year, the business earned $4.11 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Churchill Downs, Incorporated will post $6.43 EPS for the current fiscal year.
Churchill Downs, declared that its Board of Directors has approved a stock buyback program on Tuesday, April 25th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 99% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of research firms have recently commented on CHDN. Telsey Advisory Group upped their price objective on shares of Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Friday. Imperial Capital upped their price objective on shares of Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday. BidaskClub downgraded shares of Churchill Downs, from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Churchill Downs, from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Churchill Downs, currently has a consensus rating of “Hold” and a consensus price target of $179.75.
In related news, Director Richard L. Duchossois acquired 4,548 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $164.95 per share, with a total value of $750,192.60. Following the purchase, the director now owns 9,509 shares of the company’s stock, valued at $1,568,509.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Alex Rankin acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the completion of the purchase, the director now directly owns 11,214 shares in the company, valued at approximately $1,841,002.38. The disclosure for this purchase can be found here. 18.44% of the stock is currently owned by company insiders.
About Churchill Downs,
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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