Wells Fargo & Company MN decreased its holdings in Churchill Downs, Inc. (NASDAQ:CHDN) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,038 shares of the company’s stock after selling 24,631 shares during the quarter. Wells Fargo & Company MN owned 0.17% of Churchill Downs worth $6,798,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in Churchill Downs by 14.2% during the first quarter. BlackRock Inc. now owns 5,095,005 shares of the company’s stock valued at $524,530,000 after purchasing an additional 633,835 shares in the last quarter. State Street Corp lifted its position in shares of Churchill Downs by 0.6% during the 1st quarter. State Street Corp now owns 1,112,209 shares of the company’s stock worth $114,502,000 after buying an additional 6,424 shares during the period. Nitorum Capital L.P. boosted its stake in Churchill Downs by 3.2% in the 4th quarter. Nitorum Capital L.P. now owns 1,042,708 shares of the company’s stock valued at $143,060,000 after buying an additional 32,019 shares in the last quarter. Janus Henderson Group PLC grew its position in Churchill Downs by 544.0% in the fourth quarter. Janus Henderson Group PLC now owns 580,229 shares of the company’s stock valued at $79,607,000 after acquiring an additional 490,128 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Churchill Downs by 7.8% in the 1st quarter. Geode Capital Management LLC now owns 526,684 shares of the company’s stock worth $54,222,000 after purchasing an additional 38,083 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.
A number of equities analysts have commented on the stock. TheStreet lowered shares of Churchill Downs from a “b-” rating to a “c+” rating in a research report on Wednesday, March 18th. BidaskClub raised Churchill Downs from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 28th. ValuEngine upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Zacks Investment Research upgraded Churchill Downs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Churchill Downs has a consensus rating of “Buy” and a consensus price target of $137.00.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Churchill Downs had a net margin of 7.78% and a return on equity of 30.45%. The business had revenue of $252.90 million for the quarter, compared to analyst estimates of $251.45 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Churchill Downs, Inc. will post 1.47 EPS for the current year.
In other Churchill Downs news, COO William E. Mudd sold 4,138 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $139.19, for a total value of $575,968.22. Following the transaction, the chief operating officer now owns 276,583 shares of the company’s stock, valued at $38,497,587.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO William E. Mudd sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.59, for a total value of $627,950.00. Following the transaction, the chief operating officer now owns 281,690 shares in the company, valued at approximately $35,377,447.10. The disclosure for this sale can be found here. Insiders sold 14,138 shares of company stock worth $1,813,968 over the last 90 days. 4.28% of the stock is currently owned by company insiders.
Churchill Downs Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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