Churchill Downs Inc (CHDN US, +1, 02-May-24)
Paul Varga (Non-Executive Director since 2020) purchased US$ 495,000 worth of stock on April 29th at $130.22, increasing his holding by 15%. His only previous buy was for $795,000 at $49.70 in March 2020 which proved to be extremely timely.
It’s interesting to see him buying in a decent size at a 2.5x higher price. The purchase is just a few days before the 150th running of the Kentucky Derby.
Varga currently serves on the Board of Directors of Macy’s and served as the Chairman and Chief Executive Officer of Brown-Forman Corporation between 2007-2018. The company reported its Q1 report on April 24th.
We are ranking stock +1.
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