Schroder Investment Management Group lessened its holdings in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 33.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,446 shares of the company’s stock after selling 15,095 shares during the period. Schroder Investment Management Group owned about 0.19% of Churchill Downs worth $6,095,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Churchill Downs by 19.0% during the 2nd quarter. US Bancorp DE now owns 1,960 shares of the company’s stock worth $359,000 after acquiring an additional 313 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Churchill Downs by 322.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,384 shares of the company’s stock worth $1,537,000 after acquiring an additional 6,400 shares during the period. Strs Ohio grew its holdings in shares of Churchill Downs by 150.0% during the 2nd quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after acquiring an additional 600 shares during the period. Texas Permanent School Fund grew its holdings in shares of Churchill Downs by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 9,027 shares of the company’s stock worth $1,655,000 after acquiring an additional 105 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Churchill Downs during the 2nd quarter worth approximately $314,000. Institutional investors own 72.50% of the company’s stock.
CHDN has been the topic of a number of research analyst reports. Telsey Advisory Group upped their target price on Churchill Downs from $182.00 to $196.00 and gave the stock a “market perform” rating in a report on Thursday, September 14th. Zacks Investment Research downgraded Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd.
Churchill Downs, Inc. (NASDAQ CHDN) opened at $229.05 on Monday. The stock has a market capitalization of $3,533.24, a P/E ratio of 32.67 and a beta of 0.92. Churchill Downs, Inc. has a 12-month low of $141.00 and a 12-month high of $237.82. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.57 and a quick ratio of 0.57.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.18. The business had revenue of $314.80 million for the quarter, compared to analysts’ expectations of $308.43 million. Churchill Downs had a return on equity of 17.48% and a net margin of 9.75%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. equities analysts anticipate that Churchill Downs, Inc. will post 6.95 earnings per share for the current fiscal year.
The firm also recently disclosed an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a $1.52 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Churchill Downs’s previous annual dividend of $1.32. This represents a yield of 0.73%. Churchill Downs’s dividend payout ratio is 19.17%.
Churchill Downs declared that its board has initiated a stock repurchase plan on Wednesday, November 29th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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