The Alambic Investment Management L.P. Buys Shares of 3,070 Churchill Downs, Incorporated (CHDN)

The Alambic Investment Management L.P. Buys Shares of 3,070 Churchill Downs, Incorporated (CHDN)

Alambic Investment Management L.P. bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the third quarter, Holdings Channel reports. The fund bought 3,070 shares of the company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CHDN. BlackRock Fund Advisors boosted its position in shares of Churchill Downs, by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock valued at $80,715,000 after buying an additional 334,299 shares during the last quarter. State Street Corp boosted its stake in Churchill Downs, by 75.4% in the second quarter. State Street Corp now owns 404,048 shares of the company’s stock valued at $51,054,000 after buying an additional 173,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Churchill Downs, by 192.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 203,404 shares of the company’s stock valued at $25,703,000 after buying an additional 133,965 shares in the last quarter. Guggenheim Capital LLC bought a new stake in Churchill Downs, during the second quarter valued at approximately $10,669,000. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Churchill Downs, by 268.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 90,989 shares of the company’s stock valued at $11,497,000 after buying an additional 66,278 shares in the last quarter. Institutional investors own 69.95% of the company’s stock.

Churchill Downs, Incorporated (NASDAQ:CHDN) traded up 0.18% during mid-day trading on Wednesday, reaching $142.90. 33,152 shares of the company’s stock were exchanged. The company has a market cap of $2.34 billion, a PE ratio of 27.44 and a beta of 0.74. Churchill Downs, Incorporated has a 52-week low of $118.76 and a 52-week high of $157.15. The stock has a 50-day moving average price of $150.38 and a 200 day moving average price of $144.21.

Churchill Downs, (NASDAQ:CHDN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.43. The firm had revenue of $303.40 million for the quarter, compared to the consensus estimate of $301.86 million. Churchill Downs, had a return on equity of 13.60% and a net margin of 6.82%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Equities analysts predict that Churchill Downs, Incorporated will post $5.56 earnings per share for the current fiscal year.

The company also recently disclosed an annual dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 2nd were given a dividend of $1.32 per share. This is a boost from Churchill Downs,’s previous annual dividend of $1.15. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a yield of 0.97%. Churchill Downs,’s dividend payout ratio (DPR) is presently 25.29%.

Several analysts recently commented on the stock. Hilliard Lyons cut shares of Churchill Downs, from a “buy” rating to a “neutral” rating in a report on Friday, December 9th. Zacks Investment Research cut shares of Churchill Downs, from a “buy” rating to a “hold” rating in a report on Wednesday, December 14th. J P Morgan Chase & Co assumed coverage on shares of Churchill Downs, in a report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price target for the company. Imperial Capital restated an “outperform” rating and set a $165.00 price target (up from $145.00) on shares of Churchill Downs, in a report on Friday, October 14th. Finally, Telsey Advisory Group decreased their price target on shares of Churchill Downs, from $176.00 to $172.00 and set an “outperform” rating for the company in a report on Monday, October 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $161.83.

In other Churchill Downs, news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $154.50, for a total transaction of $772,500.00. Following the transaction, the director now owns 159,194 shares in the company, valued at approximately $24,595,473. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Duchossois sold 137,141 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $148.75, for a total value of $20,399,723.75. Following the transaction, the director now owns 7,208 shares in the company, valued at approximately $1,072,190. The disclosure for this sale can be found here. Company insiders own 19.05% of the company’s stock.

Churchill Downs, Company Profile

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.

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