Churchill Downs Inc. (CHDN) Director Sells $775,350.00 in Stock
Churchill Downs Inc. (NASDAQ:CHDN) Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $155.07, for a total value of $775,350.00. Following the completion of the sale, the director now owns 164,194 shares of the company’s stock, valued at approximately $25,461,563.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Churchill Downs Inc. (NASDAQ:CHDN) opened at 153.10 on Thursday. Churchill Downs Inc. has a 1-year low of $118.76 and a 1-year high of $157.15. The stock’s 50 day moving average price is $142.70 and its 200 day moving average price is $137.65. The stock has a market capitalization of $2.51 billion, a PE ratio of 29.40 and a beta of 0.69.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by $0.43. Churchill Downs had a net margin of 6.82% and a return on equity of 13.60%. The firm had revenue of $303.40 million for the quarter, compared to the consensus estimate of $301.86 million. During the same period in the previous year, the company posted $0.24 earnings per share. Churchill Downs’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs Inc. will post $5.68 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 2nd will be paid a dividend of $1.32 per share. The ex-dividend date is Wednesday, November 30th. This is a positive change from Churchill Downs’s previous annual dividend of $1.15. This represents a yield of 0.97%. Churchill Downs’s dividend payout ratio is presently 22.03%.
Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of 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 raised its position in shares of 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. raised its position in shares of 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 purchased a new position in shares of Churchill Downs during the second quarter worth approximately $10,669,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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. 69.98% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $154.00 target price for the company in a research report on Wednesday, November 2nd. Telsey Advisory Group dropped their target price on Churchill Downs from $176.00 to $172.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Imperial Capital restated an “outperform” rating and issued a $165.00 target price (up previously from $145.00) on shares of Churchill Downs in a research report on Friday, October 14th. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 target price for the company. Finally, Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $159.33.
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.
Receive News & Ratings for Churchill Downs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.