Balyasny Asset Management L.P. Acquires 246,769 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Balyasny Asset Management L.P. raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 113.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 463,555 shares of the company’s stock after purchasing an additional 246,769 shares during the quarter. Balyasny Asset Management L.P. owned 0.62% of Churchill Downs worth $62,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CHDN. Pathstone Family Office LLC raised its stake in shares of Churchill Downs by 35.6% in the third quarter. Pathstone Family Office LLC now owns 1,824 shares of the company’s stock valued at $212,000 after acquiring an additional 479 shares during the period. Hunter Associates Investment Management LLC raised its stake in shares of Churchill Downs by 17.9% in the third quarter. Hunter Associates Investment Management LLC now owns 9,807 shares of the company’s stock valued at $1,143,000 after acquiring an additional 1,488 shares during the period. Rhumbline Advisers raised its stake in shares of Churchill Downs by 1.1% in the third quarter. Rhumbline Advisers now owns 216,932 shares of the company’s stock valued at $25,173,000 after acquiring an additional 2,357 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of Churchill Downs in the third quarter valued at $226,000. Finally, Kestra Advisory Services LLC raised its stake in shares of Churchill Downs by 1.8% in the third quarter. Kestra Advisory Services LLC now owns 24,599 shares of the company’s stock valued at $2,854,000 after acquiring an additional 424 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 0.0 %

CHDN stock opened at $134.51 on Tuesday. The firm has a 50 day moving average of $129.38 and a 200 day moving average of $124.86. The stock has a market capitalization of $9.89 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 3.70 and a beta of 0.99. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $141.89.

Churchill Downs (NASDAQ:CHDNGet Free Report) last released its earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. Churchill Downs’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. Sell-side analysts forecast that Churchill Downs Incorporated will post 5.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CHDN shares. Mizuho raised their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $156.00 price target on shares of Churchill Downs in a research note on Monday, May 6th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $137.00 to $141.00 in a research note on Monday, April 15th. Stifel Nicolaus raised their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Read Our Latest Stock Report on Churchill Downs

Insiders Place Their Bets

In other Churchill Downs news, Director Paul C. Varga purchased 3,800 shares of Churchill Downs stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $130.22 per share, with a total value of $494,836.00. Following the transaction, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.13% of the stock is currently owned by insiders.

Churchill Downs Profile

(Free Report)

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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