Wells Fargo & Company MN grew its holdings in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,807 shares of the company’s stock after acquiring an additional 2,068 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Churchill Downs worth $4,842,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Churchill Downs by 60.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 695 shares of the company’s stock worth $162,000 after acquiring an additional 262 shares during the period. Strs Ohio boosted its position in Churchill Downs by 30.0% during the 4th quarter. Strs Ohio now owns 1,300 shares of the company’s stock worth $302,000 after acquiring an additional 300 shares during the period. Sei Investments Co. boosted its position in Churchill Downs by 17.8% during the 3rd quarter. Sei Investments Co. now owns 2,014 shares of the company’s stock worth $415,000 after acquiring an additional 304 shares during the period. Allianz Asset Management GmbH boosted its position in Churchill Downs by 6.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 6,248 shares of the company’s stock worth $1,288,000 after acquiring an additional 353 shares during the period. Finally, ING Groep NV boosted its position in Churchill Downs by 23.3% during the 4th quarter. ING Groep NV now owns 1,955 shares of the company’s stock worth $455,000 after acquiring an additional 370 shares during the period. Institutional investors own 82.37% of the company’s stock.
A number of research analysts have issued reports on CHDN shares. Zacks Investment Research upgraded Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 price target for the company in a research report on Tuesday, January 16th. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Jefferies Group initiated coverage on Churchill Downs in a research note on Thursday, January 18th. They issued a “hold” rating and a $261.00 price objective on the stock. Finally, Telsey Advisory Group initiated coverage on Churchill Downs in a research note on Tuesday, March 13th. They issued a “market perform” rating and a $265.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $254.25.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.44). Churchill Downs had a return on equity of 16.80% and a net margin of 11.47%. The firm had revenue of $179.00 million during the quarter, compared to the consensus estimate of $255.33 million. During the same period in the prior year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. research analysts forecast that Churchill Downs, Inc. will post 11.38 EPS for the current year.
In related news, Director Richard L. Duchossois bought 2,050 shares of the business’s stock in a transaction dated Wednesday, March 28th. The shares were bought at an average cost of $244.39 per share, with a total value of $500,999.50. Following the completion of the transaction, the director now directly owns 16,290 shares of the company’s stock, valued at $3,981,113.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Harrington sold 35,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $271.20, for a total value of $9,492,000.00. Following the sale, the director now directly owns 15,444 shares in the company, valued at $4,188,412.80. The disclosure for this sale can be found here. Insiders bought a total of 9,725 shares of company stock worth $2,502,031 in the last three months. Company insiders own 13.78% of the company’s stock.
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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
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