Churchill Downs Inc. (CHDN) Shares Bought by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. increased its stake in Churchill Downs Inc. (NASDAQ:CHDN) by 192.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 203,404 shares of the company’s stock after buying an additional 133,965 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 1.23% of Churchill Downs worth $25,703,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CHDN. HBK Investments L P acquired a new position in shares of Churchill Downs during the first quarter worth approximately $680,000. Nationwide Fund Advisors boosted its position in shares of Churchill Downs by 255.2% in the second quarter. Nationwide Fund Advisors now owns 29,265 shares of the company’s stock worth $3,698,000 after buying an additional 21,026 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Churchill Downs by 268.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 90,989 shares of the company’s stock worth $11,497,000 after buying an additional 66,278 shares during the last quarter. Emerald Advisers Inc. PA boosted its position in shares of Churchill Downs by 283.5% in the second quarter. Emerald Advisers Inc. PA now owns 86,708 shares of the company’s stock worth $10,956,000 after buying an additional 64,101 shares during the last quarter. Finally, Bruderman Asset Management LLC acquired a new position in shares of Churchill Downs during the second quarter worth approximately $140,000. Institutional investors own 72.32% of the company’s stock.
Shares of Churchill Downs Inc. (NASDAQ:CHDN) opened at 142.15 on Monday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 27.29 and a beta of 0.69. Churchill Downs Inc. has a 52 week low of $118.76 and a 52 week high of $151.48. The company has a 50-day moving average price of $141.32 and a 200-day moving average price of $136.35.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.43. Churchill Downs had a return on equity of 13.60% and a net margin of 6.82%. The business earned $303.40 million during the quarter, compared to analysts’ expectations of $301.86 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that Churchill Downs Inc. will post $5.68 EPS for the current year.
The firm also recently declared an annual dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 2nd will be issued a $1.32 dividend. The ex-dividend date is Wednesday, November 30th. This is a boost from Churchill Downs’s previous annual dividend of $1.15. This represents a yield of 0.97%. Churchill Downs’s payout ratio is currently 22.03%.
CHDN has been the topic of a number of recent research reports. Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research note on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price objective for the company. Telsey Advisory Group increased their price objective on Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, Imperial Capital reissued an “outperform” rating and set a $165.00 price objective (up previously from $145.00) on shares of Churchill Downs in a research note on Friday, October 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $159.33.
In other Churchill Downs news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $150.00, for a total value of $750,000.00. Following the sale, the director now owns 184,235 shares of the company’s stock, valued at approximately $27,635,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.05% of the stock is owned by corporate insiders.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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