Churchill Downs (CHDN) PT Lowered to $280.00
Churchill Downs (NASDAQ:CHDN) had its price objective lowered by research analysts at Telsey Advisory Group from $290.00 to $280.00 in a report released on Wednesday. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 7.56% from the company’s previous close.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Jefferies Financial Group set a $317.00 price objective on shares of Churchill Downs and gave the company a “hold” rating in a report on Monday, August 6th. BidaskClub raised shares of Churchill Downs from a “strong sell” rating to a “sell” rating in a report on Saturday, September 15th. Finally, ValuEngine downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $313.33.
NASDAQ CHDN opened at $260.31 on Wednesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. Churchill Downs has a 52 week low of $212.45 and a 52 week high of $314.60. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.71.
In related news, Director Richard L. Duchossois purchased 1,900 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were purchased at an average cost of $265.83 per share, for a total transaction of $505,077.00. Following the completion of the transaction, the director now directly owns 8,550 shares in the company, valued at approximately $2,272,846.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard L. Duchossois purchased 3,700 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the completion of the transaction, the director now owns 12,137 shares of the company’s stock, valued at $3,294,831.39. The disclosure for this purchase can be found here. Corporate insiders own 13.78% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC bought a new position in shares of Churchill Downs during the first quarter worth about $503,000. Legal & General Group Plc lifted its position in shares of Churchill Downs by 3.6% during the first quarter. Legal & General Group Plc now owns 12,179 shares of the company’s stock worth $2,972,000 after purchasing an additional 424 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Churchill Downs by 8,402.9% during the first quarter. Royal Bank of Canada now owns 8,673 shares of the company’s stock worth $2,117,000 after purchasing an additional 8,571 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Churchill Downs by 232.7% during the second quarter. Bank of Montreal Can now owns 1,078 shares of the company’s stock worth $320,000 after purchasing an additional 754 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Churchill Downs by 12.5% during the second quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock worth $91,525,000 after purchasing an additional 34,295 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.
Churchill Downs Company Profile
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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