Parthenon LLC reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,356 shares of the company’s stock after selling 970 shares during the period. Churchill Downs, makes up approximately 1.2% of Parthenon LLC’s portfolio, making the stock its 27th biggest position. Parthenon LLC owned about 0.16% of Churchill Downs, worth $5,228,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Churchill Downs, by 0.4% during the second quarter. BlackRock Inc. now owns 1,306,153 shares of the company’s stock worth $239,419,000 after purchasing an additional 4,852 shares during the period. Vanguard Group Inc. increased its stake in Churchill Downs, by 4.7% during the first quarter. Vanguard Group Inc. now owns 1,071,720 shares of the company’s stock worth $170,242,000 after purchasing an additional 47,702 shares during the period. FMR LLC increased its stake in Churchill Downs, by 0.3% during the second quarter. FMR LLC now owns 740,145 shares of the company’s stock worth $135,669,000 after purchasing an additional 2,474 shares during the period. State Street Corp increased its stake in Churchill Downs, by 4.3% during the second quarter. State Street Corp now owns 427,609 shares of the company’s stock worth $78,379,000 after purchasing an additional 17,798 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Churchill Downs, by 15.3% during the third quarter. Victory Capital Management Inc. now owns 355,575 shares of the company’s stock worth $73,320,000 after purchasing an additional 47,313 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.
Churchill Downs, (NASDAQ:CHDN) last announced its earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.18. The company had revenue of $314.80 million for the quarter, compared to analyst estimates of $308.43 million. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. Churchill Downs,’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share.
The business also recently announced an annual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be given a dividend of $1.52 per share. The ex-dividend date is Thursday, November 30th. This is a positive change from Churchill Downs,’s previous annual dividend of $1.32. This represents a dividend yield of 0.73%. Churchill Downs,’s payout ratio is 17.91%.
In other news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $195.00, for a total transaction of $975,000.00. Following the sale, the director now directly owns 95,878 shares of the company’s stock, valued at $18,696,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.44% of the stock is owned by insiders.
A number of analysts have issued reports on the stock. Telsey Advisory Group boosted their price target on shares of Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. Zacks Investment Research lowered shares of Churchill Downs, from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Imperial Capital reissued a “buy” rating on shares of Churchill Downs, in a research report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Churchill Downs, has an average rating of “Hold” and an average target price of $210.67.
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 six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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