Today The Churchill Downs, Incorporated (CHDN) Shares Bought by Three Peaks Capital Management LLC

Today The Churchill Downs, Incorporated (CHDN) Shares Bought by Three Peaks Capital Management LLC

Three Peaks Capital Management LLC raised its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,518 shares of the company’s stock after buying an additional 3,740 shares during the period. Churchill Downs, accounts for approximately 1.9% of Three Peaks Capital Management LLC’s portfolio, making the stock its 16th largest position. Three Peaks Capital Management LLC’s holdings in Churchill Downs, were worth $12,077,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Advantus Capital Management Inc acquired a new position in shares of Churchill Downs, during the second quarter worth $184,000. Genesee Valley Trust Co. purchased a new stake in shares of Churchill Downs, during the third quarter valued at $200,000. Barclays PLC increased its stake in shares of Churchill Downs, by 19.1% in the second quarter. Barclays PLC now owns 1,637 shares of the company’s stock valued at $206,000 after buying an additional 263 shares during the period. Amalgamated Bank purchased a new stake in shares of Churchill Downs, during the second quarter valued at $215,000. Finally, Stevens Capital Management LP increased its stake in shares of Churchill Downs, by 23.1% in the second quarter. Stevens Capital Management LP now owns 1,719 shares of the company’s stock valued at $217,000 after buying an additional 323 shares during the period. 69.96% of the stock is owned by institutional investors and hedge funds.

Churchill Downs, Incorporated (NASDAQ:CHDN) traded up 0.42% during midday trading on Wednesday, reaching $144.85. 4,638 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $149.30 and its 200-day moving average is $144.73. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 27.81 and a beta of 0.74. Churchill Downs, Incorporated has a 12-month low of $118.76 and a 12-month high of $157.15.

The business also recently disclosed an annual dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 2nd were given a $1.32 dividend. This represents a yield of 0.97%. 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. Churchill Downs,’s payout ratio is 25.29%.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Churchill Downs, from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Monday, January 2nd. Hilliard Lyons downgraded shares of Churchill Downs, from a “buy” rating to a “neutral” rating in a research report on Friday, December 9th. Imperial Capital reissued an “outperform” rating and set a $165.00 price target (up previously from $145.00) on shares of Churchill Downs, in a research report on Friday, October 14th. Finally, Telsey Advisory Group reduced their price target on shares of Churchill Downs, from $176.00 to $172.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $161.83.

In related news, Director Richard L. Duchossois sold 137,141 shares of the stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $148.75, for a total transaction of $20,399,723.75. Following the completion of the sale, the director now owns 7,208 shares of the company’s stock, valued at $1,072,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $155.07, for a total transaction of $775,350.00. Following the sale, the director now directly owns 164,194 shares of the company’s stock, valued at approximately $25,461,563.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,993 shares of company stock valued at $26,797,520. 19.05% of the stock is owned by corporate insiders.

About Churchill Downs,

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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