Chicago Equity Partners LLC Invests $1.19 Million in Churchill Downs, Incorporated (CHDN) Stock

Chicago Equity Partners LLC acquired a new stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 5,745 shares of the company’s stock, valued at approximately $1,185,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP boosted its position in shares of Churchill Downs, by 34.1% during the 3rd quarter. Artemis Investment Management LLP now owns 97,534 shares of the company’s stock valued at $20,119,000 after acquiring an additional 24,785 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Churchill Downs, during the 3rd quarter valued at approximately $454,000. Victory Capital Management Inc. boosted its position in shares of Churchill Downs, by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 355,575 shares of the company’s stock valued at $73,320,000 after acquiring an additional 47,313 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Churchill Downs, by 54.2% during the 3rd quarter. First Trust Advisors LP now owns 13,565 shares of the company’s stock valued at $2,797,000 after acquiring an additional 4,768 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Churchill Downs, by 1.3% during the 3rd quarter. Nationwide Fund Advisors now owns 29,229 shares of the company’s stock valued at $6,027,000 after acquiring an additional 377 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

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Churchill Downs, Incorporated (CHDN) opened at $213.70 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $3,297.23, a P/E ratio of 30.49 and a beta of 0.89. Churchill Downs, Incorporated has a 52-week low of $137.01 and a 52-week high of $218.05.

Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.18. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $308.43 million. Churchill Downs, had a return on equity of 17.48% and a net margin of 9.75%. Churchill Downs,’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. sell-side analysts predict that Churchill Downs, Incorporated will post 6.99 earnings per share for the current fiscal year.

The business also recently declared an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a $1.52 dividend. The ex-dividend date is Thursday, November 30th. This is an increase from Churchill Downs,’s previous annual dividend of $1.32. This represents a yield of 0.73%. Churchill Downs,’s dividend payout ratio (DPR) is currently 16.65%.

A number of research analysts have recently commented on CHDN shares. Zacks Investment Research upgraded Churchill Downs, from a “hold” rating to a “buy” rating and set a $239.00 target price for the company in a research report on Wednesday, November 8th. Telsey Advisory Group increased their target price on Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Imperial Capital increased their target price on Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Churchill Downs, presently has a consensus rating of “Buy” and an average target price of $218.67.

In related news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $198.25, for a total value of $991,250.00. Following the completion of the sale, the director now directly owns 90,878 shares in the company, valued at $18,016,563.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 18.44% of the stock is owned by company insiders.

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.

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

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