Churchill Downs, Inc. (NASDAQ:CHDN) Director Daniel P. Harrington sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $271.20, for a total transaction of $9,492,000.00. Following the completion of the sale, the director now owns 15,444 shares in the company, valued at approximately $4,188,412.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Churchill Downs, Inc. (CHDN) traded up $0.35 during mid-day trading on Wednesday, reaching $268.30. 112,972 shares of the company traded hands, compared to its average volume of 151,223. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.76. Churchill Downs, Inc. has a 52 week low of $151.50 and a 52 week high of $279.45. The stock has a market capitalization of $3,697.34, a PE ratio of 30.69, a P/E/G ratio of 1.49 and a beta of 1.02.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.44). Churchill Downs had a return on equity of 16.80% and a net margin of 11.47%. The business had revenue of $179.00 million during the quarter, compared to the consensus estimate of $255.33 million. During the same quarter in the previous year, the business posted $1.60 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. analysts predict that Churchill Downs, Inc. will post 11.38 EPS for the current year.
CHDN has been the topic of several research reports. BidaskClub cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 target price on the stock in a report on Tuesday, January 16th. Telsey Advisory Group initiated coverage on shares of Churchill Downs in a report on Tuesday. They issued a “market perform” rating and a $265.00 target price on the stock. Finally, Jefferies Group initiated coverage on shares of Churchill Downs in a report on Thursday, January 18th. They issued a “hold” rating and a $261.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $254.25.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Churchill Downs by 60.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 695 shares of the company’s stock worth $162,000 after acquiring an additional 262 shares during the period. Bruderman Asset Management LLC bought a new stake in shares of Churchill Downs during the 4th quarter valued at $202,000. Renaissance Technologies LLC bought a new stake in shares of Churchill Downs during the 4th quarter valued at $204,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Churchill Downs during the 3rd quarter valued at $206,000. Finally, Aviance Capital Partners LLC bought a new stake in shares of Churchill Downs during the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 82.26% of the company’s stock.
About Churchill Downs
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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
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