Churchill Downs, Inc. (NASDAQ:CHDN) saw an insider lower his position in the company through a transaction that began last week and was officially filed today, September 8th. Executive Vice President and Chief Financial Officer William E. Mudd sold 10,075 shares of common stock at an average of $96 per share. Following this move, Mudd now directly holds 130,757.2994 shares in the company. Moreover, this is not the first time Mudd has made a move of this type, as he sold over 1,000 shares in the $1.68 billion market cap company over the course of the last two months.
In addition, there are multiple hedge funds with large stakes in the company. Paul Reeder And Edward Shapiro‘s Par Capital Management holds 1,286,544 shares in the company, worth around $117.4 million; while Gamco Investors, the hedge fund run by Mario Gabelli, holds 900,593 shares worth approximately $82 million after reporting a 2% decrease last quarter, in it’s activity with Churchill Downs, Inc. (NASDAQ:CHDN), the horse-racing and entertainment provider.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.