Millennium Management LLC lifted its holdings in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 45.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,009 shares of the company’s stock after acquiring an additional 631 shares during the quarter. Millennium Management LLC’s holdings in Churchill Downs were worth $596,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Churchill Downs by 3.1% during the second quarter. Arizona State Retirement System now owns 7,896 shares of the company’s stock worth $2,341,000 after acquiring an additional 239 shares during the last quarter. HL Financial Services LLC increased its position in shares of Churchill Downs by 2.4% during the second quarter. HL Financial Services LLC now owns 11,307 shares of the company’s stock worth $3,353,000 after acquiring an additional 263 shares during the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Churchill Downs by 6.6% during the second quarter. Cookson Peirce & Co. Inc. now owns 5,680 shares of the company’s stock worth $1,684,000 after acquiring an additional 350 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Churchill Downs by 4.1% during the second quarter. Mutual of America Capital Management LLC now owns 9,743 shares of the company’s stock worth $2,889,000 after acquiring an additional 385 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Churchill Downs during the second quarter worth about $119,000. 69.91% of the stock is currently owned by institutional investors and hedge funds.
CHDN has been the topic of a number of analyst reports. BidaskClub lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research lowered Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Jefferies Financial Group set a $317.00 target price on Churchill Downs and gave the stock a “hold” rating in a research report on Monday, August 6th. Finally, ValuEngine lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Five research analysts have rated the stock with a hold rating, Churchill Downs currently has an average rating of “Hold” and a consensus price target of $316.67.
In other news, Director Richard L. Duchossois purchased 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $271.47 per share, for a total transaction of $1,004,439.00. Following the completion of the purchase, the director now owns 12,137 shares of the company’s stock, valued at $3,294,831.39. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Duchossois purchased 1,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average price of $265.83 per share, with a total value of $505,077.00. Following the completion of the purchase, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $2,272,846.50. The disclosure for this purchase can be found here. 13.78% of the stock is currently owned by company insiders.
NASDAQ:CHDN opened at $265.00 on Friday. The stock has a market capitalization of $3.75 billion, a P/E ratio of 25.75, a PEG ratio of 1.28 and a beta of 1.07. Churchill Downs, Inc. has a one year low of $211.20 and a one year high of $314.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.09 and a quick ratio of 1.09.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.43). The firm had revenue of $221.30 million during the quarter, compared to analyst estimates of $208.87 million. Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. On average, analysts predict that Churchill Downs, Inc. will post 10.82 EPS for the current year.
The company also recently declared an annual dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be paid a $1.63 dividend. This represents a yield of 0.6%. This is an increase from Churchill Downs’s previous annual dividend of $1.52. The ex-dividend date of this dividend is Thursday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is 25.85%.
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About Churchill Downs
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
See Also: Intrinsic Value
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