Churchill Downs, Incorporated (CHDN) Upgraded to “Hold” at Zacks Investment Research
Churchill Downs, Incorporated (NASDAQ:CHDN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
CHDN has been the topic of a number of other reports. Telsey Advisory Group downgraded shares of Churchill Downs, from an “outperform” rating to a “market perform” rating and set a $174.00 price objective on the stock. in a research note on Friday, April 28th. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Imperial Capital increased their price objective on shares of Churchill Downs, from $169.00 to $184.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $171.75.
Churchill Downs, (NASDAQ CHDN) traded down 0.22% during midday trading on Tuesday, hitting $179.80. 42,662 shares of the stock traded hands. The company has a market cap of $2.93 billion, a PE ratio of 26.75 and a beta of 0.88. The company’s 50-day moving average is $173.90 and its 200-day moving average is $158.99. Churchill Downs, has a one year low of $126.10 and a one year high of $186.05.
Churchill Downs, (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 26th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.07. Churchill Downs, had a net margin of 8.66% and a return on equity of 14.14%. The firm had revenue of $279.50 million during the quarter, compared to analysts’ expectations of $283.23 million. During the same quarter last year, the company posted $0.16 earnings per share. Churchill Downs,’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts expect that Churchill Downs, will post $6.48 EPS for the current fiscal year.
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In related news, Director Richard L. Duchossois acquired 4,548 shares of Churchill Downs, stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $164.95 per share, for a total transaction of $750,192.60. Following the purchase, the director now directly owns 9,509 shares of the company’s stock, valued at approximately $1,568,509.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Alex Rankin acquired 1,000 shares of Churchill Downs, stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $164.17 per share, for a total transaction of $164,170.00. Following the completion of the purchase, the director now directly owns 11,214 shares in the company, valued at $1,841,002.38. The disclosure for this purchase can be found here. Corporate insiders own 18.44% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its position in Churchill Downs, by 8.3% in the fourth quarter. Comerica Bank now owns 7,257 shares of the company’s stock worth $1,048,000 after buying an additional 558 shares during the period. Teachers Advisors LLC increased its position in Churchill Downs, by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 108,693 shares of the company’s stock worth $16,353,000 after buying an additional 3,779 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of 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. Norges Bank acquired a new stake in shares of Churchill Downs, during the fourth quarter worth $25,413,000. Finally, 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. Hedge funds and other institutional investors own 69.10% of the company’s stock.
Churchill Downs, Company Profile
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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