Churchill Downs, Incorporated (CHDN) Shares Bought by American International Group Inc.
American International Group Inc. boosted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,561 shares of the company’s stock after acquiring an additional 2,144 shares during the quarter. American International Group Inc. owned 0.23% of Churchill Downs worth $7,333,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Citigroup Inc. boosted its stake in shares of Churchill Downs by 352.2% in the 2nd quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after buying an additional 560 shares during the period. Smithfield Trust Co. purchased a new position in shares of Churchill Downs in the 3rd quarter valued at about $175,000. Bruderman Asset Management LLC purchased a new position in shares of Churchill Downs in the 2nd quarter valued at about $161,000. LS Investment Advisors LLC boosted its stake in shares of Churchill Downs by 19.8% in the 2nd quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock valued at $163,000 after buying an additional 147 shares during the period. Finally, Strs Ohio boosted its stake in shares of Churchill Downs by 150.0% in the 2nd quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $183,000 after buying an additional 600 shares during the period. Institutional investors own 72.47% of the company’s stock.
Several equities analysts have recently issued reports on the company. Telsey Advisory Group lifted their price objective on Churchill Downs from $196.00 to $209.00 and gave the company a “market perform” rating in a research note on Thursday, October 12th. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research cut Churchill Downs from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $218.67.
Shares of Churchill Downs, Incorporated (NASDAQ CHDN) opened at $233.20 on Friday. The firm has a market capitalization of $3,625.02, a P/E ratio of 33.52 and a beta of 0.91. Churchill Downs, Incorporated has a 52 week low of $141.00 and a 52 week high of $235.70. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.57 and a current ratio of 0.57.
Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.18. The firm had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $308.43 million. Churchill Downs had a return on equity of 17.48% and a net margin of 9.75%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. analysts forecast that Churchill Downs, Incorporated will post 7.11 EPS for the current year.
The firm also recently announced an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be paid a dividend of $1.52 per share. This is a boost from Churchill Downs’s previous annual dividend of $1.32. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 0.73%. Churchill Downs’s payout ratio is presently 19.17%.
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Churchill Downs Company 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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