Northwestern Mutual Investment Management Company LLC bought a new position in Churchill Downs Inc. (NASDAQ:CHDN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,075 shares of the company’s stock, valued at approximately $262,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Churchill Downs by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock worth $80,715,000 after buying an additional 334,299 shares during the last quarter. State Street Corp boosted its stake in Churchill Downs by 75.4% in the second quarter. State Street Corp now owns 404,048 shares of the company’s stock worth $51,054,000 after buying an additional 173,700 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Churchill Downs by 192.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 203,404 shares of the company’s stock worth $25,703,000 after buying an additional 133,965 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Churchill Downs during the second quarter worth about $10,669,000. Finally, Bank of New York Mellon Corp boosted 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 during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.
Churchill Downs Inc. (NASDAQ:CHDN) opened at 147.98 on Thursday. Churchill Downs Inc. has a 52-week low of $118.76 and a 52-week high of $152.98. The firm’s 50-day moving average price is $148.46 and its 200-day moving average price is $137.29. The firm has a market cap of $2.44 billion, a P/E ratio of 30.24 and a beta of 0.95.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.55. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The firm had revenue of $438.50 million for the quarter, compared to analysts’ expectations of $435.37 million. During the same quarter in the prior year, the firm earned $3.10 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that Churchill Downs Inc. will post $5.94 EPS for the current year.
CHDN has been the subject of a number of research reports. Zacks Investment Research cut Churchill Downs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 9th. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price target for the company. Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Telsey Advisory Group upped their price target on Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $160.80.
In other news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the transaction, the director now owns 194,235 shares of the company’s stock, valued at approximately $28,649,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.05% of the company’s stock.
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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