Churchill Downs, Incorporated (NASDAQ:CHDN) Holdings Lowered by Emerald Mutual Fund Advisers Trust

November 20th, 20177:24 am @

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Emerald Mutual Fund Advisers Trust decreased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 23.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,264 shares of the company’s stock after selling 9,817 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.20% of Churchill Downs, worth $6,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Churchill Downs, by 1.6% during the second quarter. SG Americas Securities LLC now owns 4,233 shares of the company’s stock worth $776,000 after acquiring an additional 67 shares during the period. K.J. Harrison Partners Inc increased its position in shares of Churchill Downs, by 2.3% during the second quarter. K.J. Harrison Partners Inc now owns 3,070 shares of the company’s stock worth $563,000 after acquiring an additional 70 shares during the period. Comerica Bank increased its position in shares of Churchill Downs, by 1.2% during the second quarter. Comerica Bank now owns 7,622 shares of the company’s stock worth $1,407,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System increased its holdings in Churchill Downs, by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 3,200 shares of the company’s stock valued at $587,000 after buying an additional 100 shares during the period. Finally, State Treasurer State of Michigan increased its holdings in Churchill Downs, by 2.0% during the second quarter. State Treasurer State of Michigan now owns 5,100 shares of the company’s stock valued at $935,000 after buying an additional 100 shares during the period. 74.17% of the stock is owned by institutional investors and hedge funds.

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Several brokerages recently issued reports on CHDN. Zacks Investment Research raised shares of Churchill Downs, from a “hold” rating to a “buy” rating and set a $239.00 price objective on the stock in a report on Wednesday, November 8th. Telsey Advisory Group raised their target price on shares of 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 shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Churchill Downs, currently has an average rating of “Buy” and an average price target of $218.67.

Churchill Downs, Incorporated (CHDN) traded up $0.45 on Friday, reaching $217.80. 105,131 shares of the company’s stock were exchanged, compared to its average volume of 90,725. The stock has a market capitalization of $3,359.70, a PE ratio of 31.07 and a beta of 0.89. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.77. Churchill Downs, Incorporated has a one year low of $141.00 and a one year high of $220.15.

Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.18. Churchill Downs, had a net margin of 9.75% and a return on equity of 17.48%. The company had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $308.43 million. During the same quarter in the prior year, the company earned $0.52 EPS. Churchill Downs,’s revenue was up 3.8% compared to the same quarter last year. analysts predict that Churchill Downs, Incorporated will post 7.11 earnings per share for the current year.

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

In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $198.25, for a total transaction of $991,250.00. Following the sale, the director now directly owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 18.44% of the company’s stock.

About Churchill Downs,

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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Article source: https://weekherald.com/2017/11/19/emerald-mutual-fund-advisers-trust-sells-9817-shares-of-churchill-downs-incorporated-chdn.html