Nationwide Fund Advisors boosted its position in shares of Churchill Downs Inc. (NASDAQ:CHDN) by 255.2% during the second quarter, Holdings Channel reports. The fund owned 29,265 shares of the company’s stock after buying an additional 21,026 shares during the period. Nationwide Fund Advisors owned approximately 0.18% of Churchill Downs worth $3,698,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Churchill Downs by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 6,401 shares of the company’s stock worth $809,000 after buying an additional 812 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Churchill Downs by 125.2% in the second quarter. Ameriprise Financial Inc. now owns 29,550 shares of the company’s stock worth $3,734,000 after buying an additional 16,430 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of 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 during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Churchill Downs by 11.4% in the second quarter. PNC Financial Services Group Inc. now owns 76,880 shares of the company’s stock worth $9,714,000 after buying an additional 7,895 shares during the last quarter. Finally, Three Peaks Capital Management LLC raised its position in shares of Churchill Downs by 39.7% in the second quarter. Three Peaks Capital Management LLC now owns 78,778 shares of the company’s stock worth $9,954,000 after buying an additional 22,369 shares during the last quarter. 72.12% of the stock is owned by institutional investors.
Shares of Churchill Downs Inc. (NASDAQ:CHDN) traded down 0.03% during midday trading on Wednesday, hitting $144.93. The stock had a trading volume of 11,275 shares. The firm’s 50 day moving average price is $148.55 and its 200 day moving average price is $137.38. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 29.61 and a beta of 0.89. Churchill Downs Inc. has a 52-week low of $118.76 and a 52-week high of $152.98.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Thursday, August 4th. The company reported $4.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $438.50 million during the quarter, compared to analyst estimates of $435.37 million. During the same quarter in the previous year, the business earned $3.10 EPS. Churchill Downs’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Churchill Downs Inc. will post $5.94 earnings per share for the current year.
A number of brokerages recently commented on CHDN. JPMorgan Chase & Co. began coverage on Churchill Downs in a research note on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price target for the company. Zacks Investment Research downgraded Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Gabelli upgraded 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 objective on Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $160.80.
In related news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the transaction, the director now owns 194,235 shares in the company, valued at approximately $28,649,662.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 19.05% of the stock is owned by corporate insiders.
Churchill Downs Company Profile
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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