Summit Global Investments acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,400 shares of the company’s stock, valued at approximately $623,000.

A number of other large investors have also bought and sold shares of the stock. AJO LP bought a new stake in Churchill Downs, during the second quarter worth about $2,780,000. Alliancebernstein L.P. boosted its stake in Churchill Downs, by 3.3% during the second quarter. Alliancebernstein L.P. now owns 22,056 shares of the company’s stock worth $4,043,000 after acquiring an additional 710 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Churchill Downs, by 22.7% during the second quarter. JPMorgan Chase & Co. now owns 23,338 shares of the company’s stock worth $4,278,000 after acquiring an additional 4,319 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Churchill Downs, by 25.9% during the second quarter. Artemis Investment Management LLP now owns 72,749 shares of the company’s stock worth $13,333,000 after acquiring an additional 14,966 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Churchill Downs, by 7.3% during the second quarter. Swiss National Bank now owns 23,500 shares of the company’s stock worth $4,308,000 after acquiring an additional 1,600 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs, stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $198.25, for a total transaction of $991,250.00. Following the completion of the transaction, the director now directly owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.44% of the stock is owned by insiders.

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Churchill Downs, Incorporated (NASDAQ CHDN) traded down 0.55% during midday trading on Tuesday, reaching $197.20. 1,494 shares of the company traded hands. Churchill Downs, Incorporated has a one year low of $131.70 and a one year high of $199.65. The company has a 50 day moving average price of $191.69 and a 200-day moving average price of $173.47. The stock has a market capitalization of $3.17 billion, a P/E ratio of 26.95 and a beta of 0.88.

Churchill Downs, (NASDAQ:CHDN) last posted its earnings results 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. The firm had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.11 EPS. Analysts forecast that Churchill Downs, Incorporated will post $6.79 EPS for the current fiscal year.

CHDN has been the topic of several research reports. BidaskClub raised shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research raised shares of Churchill Downs, from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Telsey Advisory Group boosted their price objective on shares of Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Finally, Imperial Capital boosted their price objective on shares of Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $191.25.

Churchill Downs, 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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Institutional Ownership by Quarter for Churchill Downs, (NASDAQ:CHDN)

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