Brant Point Investment Management LLC grew its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,599 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Brant Point Investment Management LLC owned approximately 0.06% of Churchill Downs worth $2,388,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Greenwood Capital Associates LLC grew its position in Churchill Downs by 24.2% during the 3rd quarter. Greenwood Capital Associates LLC now owns 1,002 shares of the company’s stock worth $278,000 after acquiring an additional 195 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in Churchill Downs by 2.0% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 10,400 shares of the company’s stock worth $2,888,000 after acquiring an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Churchill Downs by 6.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the company’s stock worth $916,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System grew its position in Churchill Downs by 3.1% during the 2nd 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. Finally, HL Financial Services LLC grew its position in Churchill Downs by 2.4% during the 2nd 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. Hedge funds and other institutional investors own 71.25% of the company’s stock.
Several equities analysts recently issued reports on CHDN shares. Jefferies Financial Group set a $317.00 price target on Churchill Downs and gave the stock a “hold” rating in a research report on Monday, August 6th. BidaskClub lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $303.33.
Churchill Downs’s stock is set to split before the market opens on Monday, January 28th. The 3-1 split was announced on Wednesday, October 31st. The newly created shares will be distributed to shareholders after the closing bell on Friday, January 25th.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.43). The business had revenue of $221.30 million during the quarter, compared to the consensus estimate of $208.87 million. Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. Churchill Downs’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Research analysts forecast that Churchill Downs, Inc. will post 10.82 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be paid a $1.63 dividend. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $1.52. Churchill Downs’s dividend payout ratio (DPR) is presently 25.85%.
In other news, Director Richard L. Duchossois bought 3,700 shares of the stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the purchase, the director now directly owns 12,137 shares in the company, valued at approximately $3,294,831.39. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Duchossois bought 1,900 shares of the stock in a transaction dated 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 purchase, the director now owns 8,550 shares in the company, valued at $2,272,846.50. The disclosure for this purchase can be found here. Company insiders own 13.78% of the company’s stock.
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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.
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