Churchill Downs, Inc. (CHDN) Director Robert L. Evans Sells 32,866 Shares

Churchill Downs, Inc. (NASDAQ:CHDN) Director Robert L. Evans sold 32,866 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $265.00, for a total value of $8,709,490.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Churchill Downs, Inc. (NASDAQ:CHDN) traded up $11.50 during mid-day trading on Thursday, hitting $254.10. The stock had a trading volume of 321,600 shares, compared to its average volume of 163,428. The firm has a market capitalization of $3,990.00, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77. Churchill Downs, Inc. has a 12 month low of $141.80 and a 12 month high of $260.52.

Churchill Downs announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 29th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of CHDN. Citigroup Inc. increased its stake in shares of Churchill Downs by 352.2% in the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after buying an additional 560 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Churchill Downs by 60.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 695 shares of the company’s stock valued at $162,000 after buying an additional 262 shares during the period. Smithfield Trust Co. acquired a new stake in shares of Churchill Downs in the third quarter valued at about $175,000. Bruderman Asset Management LLC acquired a new stake in shares of Churchill Downs in the fourth quarter valued at about $202,000. Finally, Renaissance Technologies LLC acquired a new stake in Churchill Downs during the fourth quarter worth approximately $204,000. 72.69% of the stock is owned by institutional investors.

CHDN has been the subject of several research reports. Zacks Investment Research upgraded Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 target price 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. Finally, 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 target for the company. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $240.25.

COPYRIGHT VIOLATION WARNING: This article was first reported by Markets Daily and is owned by of Markets Daily. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.themarketsdaily.com/2018/02/15/churchill-downs-inc-chdn-director-robert-l-evans-sells-32866-shares.html.

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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.

Insider Buying and Selling by Quarter for Churchill Downs (NASDAQ:CHDN)

Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply