JPMorgan Chase & Co. decreased its position in Churchill Downs Inc. (NASDAQ:CHDN) by 44.1% during the second quarter, Holdings Channel reports. The firm owned 64,338 shares of the company’s stock after selling 50,681 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Churchill Downs worth $8,130,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Churchill Downs by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 214,939 shares of the company’s stock worth $27,160,000 after buying an additional 72,980 shares in the last quarter. Geode Capital Management LLC increased its stake in Churchill Downs by 7.5% in the first quarter. Geode Capital Management LLC now owns 91,320 shares of the company’s stock worth $13,504,000 after buying an additional 6,339 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Churchill Downs by 268.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 90,989 shares of the company’s stock worth $11,497,000 after buying an additional 66,278 shares in the last quarter. William Blair Investment Management LLC increased its stake in Churchill Downs by 3.0% in the second quarter. William Blair Investment Management LLC now owns 90,226 shares of the company’s stock worth $11,401,000 after buying an additional 2,587 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Churchill Downs by 338.4% in the first quarter. Teachers Advisors Inc. now owns 89,398 shares of the company’s stock worth $13,220,000 after buying an additional 69,005 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.
Shares of Churchill Downs Inc. (NASDAQ:CHDN) traded down 0.84% on Friday, hitting $143.63. The stock had a trading volume of 58,885 shares. Churchill Downs Inc. has a one year low of $118.76 and a one year high of $152.98. The company has a market capitalization of $2.37 billion, a P/E ratio of 29.35 and a beta of 0.89. The firm has a 50 day moving average price of $148.28 and a 200 day moving average price of $137.48.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $4.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.55. The firm had revenue of $438.50 million for the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $3.10 EPS. On average, equities research analysts predict that Churchill Downs Inc. will post $5.94 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on CHDN. Zacks Investment Research raised Churchill Downs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Telsey Advisory Group boosted their target price on Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. began coverage on Churchill Downs in a research report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Churchill Downs currently has an average rating of “Buy” and an average price target of $161.60.
In other news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $148.75, for a total value of $743,750.00. Following the transaction, the director now owns 189,235 shares of the company’s stock, valued at approximately $28,148,706.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.05% of the stock is owned by company insiders.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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