RK Capital Management LLC trimmed its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,162 shares of the company’s stock after selling 1,200 shares during the quarter. Churchill Downs, comprises about 2.1% of RK Capital Management LLC’s portfolio, making the stock its 21st biggest position. RK Capital Management LLC owned approximately 0.36% of Churchill Downs, worth $10,478,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Churchill Downs, by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,306,153 shares of the company’s stock valued at $239,419,000 after purchasing an additional 4,852 shares during the period. Vanguard Group Inc. lifted its stake in shares of Churchill Downs, by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock valued at $170,242,000 after purchasing an additional 47,702 shares during the period. FMR LLC lifted its stake in shares of Churchill Downs, by 25.7% in the 1st quarter. FMR LLC now owns 737,671 shares of the company’s stock valued at $117,179,000 after purchasing an additional 150,623 shares during the period. State Street Corp lifted its stake in shares of Churchill Downs, by 2.5% in the 1st quarter. State Street Corp now owns 409,811 shares of the company’s stock valued at $65,104,000 after purchasing an additional 9,864 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Churchill Downs, by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 308,262 shares of the company’s stock valued at $56,504,000 after purchasing an additional 46,047 shares during the period. 73.84% of the stock is currently owned by institutional investors.
In other Churchill Downs, news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $198.25, for a total value of $991,250.00. Following the completion of the sale, the director now directly owns 90,878 shares in the company, valued at $18,016,563.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.44% of the company’s stock.
A number of brokerages have recently issued reports on CHDN. Telsey Advisory Group boosted their price objective on Churchill Downs, from $182.00 to $196.00 and gave the company a “market perform” rating in a research note on Thursday. BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research raised Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 price objective on the stock in a research note on Tuesday, August 1st. Finally, Imperial Capital reissued a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $194.75.
Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) traded up 1.39% during mid-day trading on Friday, reaching $204.15. The company had a trading volume of 154,571 shares. Churchill Downs, Incorporated has a 12-month low of $131.70 and a 12-month high of $204.75. The company has a market capitalization of $3.29 billion, a P/E ratio of 27.90 and a beta of 0.88. The firm has a 50-day moving average of $193.60 and a 200-day moving average of $174.75.
Churchill Downs, (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.51 by $0.30. The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. Churchill Downs,’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.11 earnings per share. On average, equities analysts anticipate that Churchill Downs, Incorporated will post $6.79 earnings per share for the current fiscal year.
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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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