Martingale Asset Management L P increased its position in Churchill Downs, Inc. (NASDAQ:CHDN) by 4.5% during the first quarter, Holdings Channel reports. The firm owned 39,403 shares of the company’s stock after buying an additional 1,700 shares during the period. Martingale Asset Management L P’s holdings in Churchill Downs were worth $6,260,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Profund Advisors LLC boosted its stake in shares of Churchill Downs by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock worth $254,000 after buying an additional 60 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Churchill Downs by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,432 shares of the company’s stock worth $704,000 after buying an additional 100 shares during the period. Thrivent Financial for Lutherans boosted its stake in Churchill Downs by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,110 shares of the company’s stock worth $317,000 after buying an additional 150 shares during the period. California State Teachers Retirement System boosted its stake in Churchill Downs by 0.7% in the third quarter. California State Teachers Retirement System now owns 28,618 shares of the company’s stock worth $4,188,000 after buying an additional 200 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Churchill Downs by 3.5% in the first quarter. Great West Life Assurance Co. Can now owns 7,699 shares of the company’s stock worth $1,223,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 70.52% of the company’s stock.
Churchill Downs, Inc. (NASDAQ:CHDN) traded up 2.95% during mid-day trading on Friday, reaching $167.65. The company had a trading volume of 209,742 shares. Churchill Downs, Inc. has a 12 month low of $118.76 and a 12 month high of $173.50. The firm’s 50 day moving average price is $164.15 and its 200-day moving average price is $152.98. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.94 and a beta of 0.71.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 26th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Churchill Downs had a return on equity of 13.60% and a net margin of 6.82%. The business had revenue of $279.50 million for the quarter, compared to analyst estimates of $283.23 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Churchill Downs, Inc. will post $6.48 earnings per share for the current year.
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CHDN has been the subject of a number of research analyst reports. Telsey Advisory Group cut Churchill Downs from an “outperform” rating to a “market perform” rating and set a $174.00 price target for the company. in a research note on Friday, April 28th. Zacks Investment Research cut Churchill Downs from a “hold” rating to a “sell” rating in a research note on Monday, February 27th. Finally, Imperial Capital increased their price objective on Churchill Downs from $169.00 to $184.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $171.75.
In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $156.00, for a total value of $780,000.00. Following the sale, the director now owns 112,350 shares of the company’s stock, valued at approximately $17,526,600. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Evans sold 4,466 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $158.00, for a total value of $705,628.00. Following the completion of the sale, the director now directly owns 100,875 shares in the company, valued at approximately $15,938,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,475 shares of company stock worth $3,367,159. 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 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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