SG Americas Securities LLC Boosts Position in Churchill Downs, Inc. (CHDN)
SG Americas Securities LLC boosted its stake in Churchill Downs, Inc. (NASDAQ:CHDN) by 282.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,688 shares of the company’s stock after acquiring an additional 3,461 shares during the quarter. SG Americas Securities LLC’s holdings in Churchill Downs were worth $1,091,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its position in Churchill Downs by 4.3% during the 2nd quarter. State Street Corp now owns 427,609 shares of the company’s stock worth $78,379,000 after buying an additional 17,798 shares in the last quarter. Victory Capital Management Inc. lifted its position in Churchill Downs by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 355,575 shares of the company’s stock worth $73,320,000 after buying an additional 47,313 shares in the last quarter. Acadian Asset Management LLC lifted its position in Churchill Downs by 89.7% during the 4th quarter. Acadian Asset Management LLC now owns 213,914 shares of the company’s stock worth $49,775,000 after buying an additional 101,124 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Churchill Downs by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 176,823 shares of the company’s stock worth $36,461,000 after buying an additional 4,786 shares in the last quarter. Finally, Cypress Funds LLC lifted its position in Churchill Downs by 33.3% during the 3rd quarter. Cypress Funds LLC now owns 162,000 shares of the company’s stock worth $33,404,000 after buying an additional 40,500 shares in the last quarter. 72.69% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on CHDN. Zacks Investment Research raised shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 price target on the stock in a research report on Tuesday, January 16th. BidaskClub cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Finally, Jefferies Group began coverage on shares of Churchill Downs in a research report on Thursday, January 18th. They set a “hold” rating and a $261.00 price target on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $240.25.
Shares of Churchill Downs, Inc. (NASDAQ CHDN) opened at $254.10 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs, Inc. has a 52-week low of $141.80 and a 52-week high of $260.52. The company has a market cap of $3,669.16, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.05.
Churchill Downs declared that its board has authorized a stock repurchase program on Wednesday, November 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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.
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