In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Churchill Downs Inc. (NASDAQ:CHDN) reported that Duchossois Group, Inc. has picked up 1,173,868 of common stock as of 2017-06-15.
The acquisition brings the aggregate amount owned by Duchossois Group, Inc. to a total of 1,173,868 representing a 7.6% stake in the company.
For those not familiar with the company, 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. Racing includes four racetracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course. Casinos is a provider of brick-and-mortar real-money casino gaming. TwinSpires operates mobile and online wagering business, which is a platform for betting on horseracing. Big Fish Games, Inc. is a producer and distributor of social casino, casual and mid-core free-to-play and premium paid games for personal computer (PC), Mac and mobile devices. Other Investments includes United Tote and Capital View Casino & Resort Joint Venture (Capital View).
A glance at Churchill Downs Inc. (NASDAQ:CHDN)’s key stats reveals a current market capitalization of $2.91 Billion based on $4.46 Million shares outstanding and a price at last close of $176.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-18, Duchossois picked up 1,534 at a purchase price of $163.00. This brings their total holding to 12,559 as of the date of the filing.
On the sell side, the most recent transaction saw Duchossois unload 137,141 shares at a sale price of $148.75. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Churchill Downs Inc. (NASDAQ:CHDN) as things move forward to see if its progress aligns with these transactions.
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