Schroder Investment Management Group reduced its position in Churchill Downs, Inc. (NASDAQ:CHDN) by 33.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,446 shares of the company’s stock after selling 15,095 shares during the period. Schroder Investment Management Group owned 0.19% of Churchill Downs worth $6,095,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Churchill Downs by 52.5% in the third quarter. JPMorgan Chase & Co. now owns 35,581 shares of the company’s stock worth $7,365,000 after buying an additional 12,243 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Churchill Downs by 11.9% in the third quarter. Legal & General Group Plc now owns 11,270 shares of the company’s stock worth $2,323,000 after buying an additional 1,202 shares in the last quarter. Sawgrass Asset Management LLC increased its stake in Churchill Downs by 44.1% during the third quarter. Sawgrass Asset Management LLC now owns 1,600 shares of the company’s stock worth $330,000 after acquiring an additional 490 shares during the last quarter. American International Group Inc. increased its stake in Churchill Downs by 6.4% during the third quarter. American International Group Inc. now owns 35,561 shares of the company’s stock worth $7,333,000 after acquiring an additional 2,144 shares during the last quarter. Finally, Aviance Capital Partners LLC bought a new stake in Churchill Downs during the third quarter worth approximately $206,000. Institutional investors own 72.50% of the company’s stock.
Several equities research analysts have weighed in on CHDN shares. Zacks Investment Research raised Churchill Downs from a “hold” rating to a “buy” rating and set a $239.00 price objective on the stock in a research note on Wednesday, November 8th. BidaskClub cut Churchill Downs from a “buy” rating to a “hold” rating in a research note on Thursday, December 14th. Finally, Telsey Advisory Group boosted their price objective on Churchill Downs from $182.00 to $196.00 and gave the stock a “market perform” rating in a research note on Thursday, September 14th.
Shares of Churchill Downs, Inc. (NASDAQ:CHDN) traded up $5.35 during midday trading on Tuesday, reaching $238.05. The company’s stock had a trading volume of 116,038 shares, compared to its average volume of 112,600. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.77. Churchill Downs, Inc. has a 52 week low of $141.00 and a 52 week high of $239.50. The company has a market capitalization of $3,670.00, a PE ratio of 29.72 and a beta of 0.92.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.18. The company 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. equities analysts predict that Churchill Downs, Inc. will post 6.95 EPS for the current year.
The firm also recently announced an annual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be paid a dividend of $1.52 per share. This is a boost from Churchill Downs’s previous annual dividend of $1.32. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 0.73%. Churchill Downs’s dividend payout ratio is currently 18.98%.
Churchill Downs declared that its board has approved a share repurchase plan on Wednesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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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