Insider Selling: Churchill Downs CEO Sells 5,700 Shares of Stock (CHDN)
Churchill Downs (NASDAQ:CHDN) CEO Robert L. Evans unloaded 5,700 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.60, for a total transaction of $510,720.00. Following the sale, the chief executive officer now directly owns 181,884 shares in the company, valued at approximately $16,296,806. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Churchill Downs (NASDAQ:CHDN) traded down 0.04% on Wednesday, hitting $91.21. The stock had a trading volume of 16,877 shares. Churchill Downs has a 1-year low of $79.41 and a 1-year high of $96.74. The stock’s 50-day moving average is $87.63 and its 200-day moving average is $89.62. The company has a market cap of $1.589 billion and a price-to-earnings ratio of 30.62.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.08. The company had revenue of $167.30 million for the quarter, compared to the consensus estimate of $167.44 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts expect that Churchill Downs will post $3.75 EPS for the current fiscal year.
Separately, analysts at Zacks upgraded shares of Churchill Downs from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $88.30 price target on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.21.
Churchill Downs Incorporated is a diversified provider of pari-mutuel horseracing, casino gaming, entertainment, and is the country’s premier source of online account wagering on horseracing events.
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