Goldman Sachs Group Inc. boosted its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 47.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,441 shares of the company’s stock after purchasing an additional 10,814 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.21% of Churchill Downs, worth $6,130,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CHDN. BlackRock Inc. boosted its position in Churchill Downs, by 23,504.2% during the 1st quarter. BlackRock Inc. now owns 1,301,301 shares of the company’s stock valued at $206,713,000 after purchasing an additional 1,295,788 shares during the period. FMR LLC boosted its position in Churchill Downs, by 25.7% during the 1st quarter. FMR LLC now owns 737,671 shares of the company’s stock valued at $117,179,000 after purchasing an additional 150,623 shares during the period. Cypress Funds LLC acquired a new position in Churchill Downs, during the 2nd quarter valued at approximately $22,271,000. Eagle Asset Management Inc. acquired a new position in Churchill Downs, during the 2nd quarter valued at approximately $13,663,000. Finally, Vanguard Group Inc. boosted its position in Churchill Downs, by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock valued at $170,242,000 after purchasing an additional 47,702 shares during the period. Institutional investors and hedge funds own 73.85% of the company’s stock.
A number of research analysts recently issued reports on CHDN shares. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Telsey Advisory Group boosted their price objective on Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Imperial Capital restated a “buy” rating on shares of Churchill Downs, in a research report on Sunday, July 30th. Finally, Zacks Investment Research lowered Churchill Downs, from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $210.67.
Churchill Downs, Incorporated (NASDAQ:CHDN) opened at 208.05 on Monday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 28.43 and a beta of 0.86. Churchill Downs, Incorporated has a 52-week low of $131.70 and a 52-week high of $211.57. The company’s 50-day moving average price is $203.97 and its 200-day moving average price is $184.07.
Churchill Downs, (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The company had revenue of $451.90 million for the quarter, compared to analyst estimates of $439.33 million. During the same period in the prior year, the company posted $4.11 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Churchill Downs, Incorporated will post $6.75 EPS for the current year.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $198.25, for a total transaction of $991,250.00. Following the sale, the director now directly owns 90,878 shares in the company, valued at approximately $18,016,563.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.44% of the stock is owned by corporate insiders.
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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