Artemis Investment Management LLP Sells 207,970 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Churchill Downs logo with consumer discretionary background

Artemis Investment Management LLP reduced its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN – free report) by 44.7% in the third quarter, according to its most recent filing on Form 13F with the Securities & Exchange Commission. The institutional investor owned 257,463 shares of the company’s stock after selling 207,970 shares during the period. Artemis Investment Management LLP owned approximately 0.34% of Churchill Downs worth $29,863,000 at the end of last quarter.

Several other large investors have also recently changed their positions in CHDN. Cambridge Investment Research Advisors Inc. increased its position in shares of Churchill Downs by 16.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock valued at $996,000 after purchasing an additional 631 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Churchill Downs by 78.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock valued at $152,000 after purchasing an additional 300 shares in the last quarter. Citigroup Inc. grew its position in Churchill Downs by 24.8% in the first quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock valued at $4,845,000 after purchasing an additional 4,345 shares in the last quarter. BlackRock Inc. increased its position in Churchill Downs by 2.2% in the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after purchasing an additional 73,505 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Churchill Downs by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock valued at $4,389,000 after purchasing an additional 1,467 shares in the last quarter. Institutional investors own 72.88% of the company’s shares.

Price development of Churchill Downs shares

Shares of NASDAQ CHDN rose $1.11 to reach $133.97 in midday trading on Friday. 31,954 shares of the company’s shares were exchanged, compared to its average volume of 377,238. The company’s 50-day simple moving average is $118.23 and its 200-day simple moving average is $122.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 5.24. The stock has a market cap of $9.99 billion, a P/E ratio of 28.21 and a beta of 1.05. Churchill Downs Incorporated has a 12-month low of $103.31 and a 12-month high of $150.45.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last released its earnings results on Wednesday, October 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $572.50 million for the quarter, compared to analysts’ expectations of $568.55 million. Churchill Downs had a net margin of 15.15% and a return on equity of 49.33%. Churchill Downs’ quarterly sales increased 49.4% compared to the same quarter last year. In the same quarter last year, the company had earnings per share of $0.81. As a group, research analysts expect that Churchill Downs Incorporated will post 5.16 earnings per share for the current year.

Churchill Downs increases dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.382 per share. This corresponds to a dividend yield of 0.35%. The ex-dividend date is Thursday, November 30th. This is an increase from Churchill Downs’ previous annual dividend of $0.36. Churchill Downs’ dividend payout ratio (DPR) is currently 8.07%.

Analyst upgrades and downgrades

A number of research firms recently commented on CHDN. JMP Securities reiterated a “Market Outperform” rating and set a $146.00 price target on shares of Churchill Downs in a research report on Tuesday, October 17th. Susquehanna lowered their price target on shares of Churchill Downs from $145.00 to $138.00 and gave the company a “positive” rating in a research report on Thursday, October 19th. Stifel Nicolaus assumed coverage on shares of Churchill Downs in a research note on Monday, October 2nd. They issued a “buy” rating and a $148.00 price target for the company. StockNews.com downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Finally, Truist Financial lowered their target price on shares of Churchill Downs from $148.00 to $140.00 and set a “buy” rating on the company in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.43.

Read our latest stock analysis for CHDN

About Churchill Downs

(Free Report)

Churchill Downs Incorporated operates as a racing, online betting and gaming entertainment company in the United States. The company operates in the live and historical racing, TwinSpires and gaming segments. The Company operates pari-mutuel gaming entertainment venues; TwinSpires, an online betting platform for horse racing, sports and iGaming; retail sports betting; and casino games.

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Institutionelle Eigentümerschaft nach Viertel für Churchill Downs <span class=NASDAQ:CHDN” width=”650″ height=”350″ Loading=”lazy”>

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