Balyasny Asset Management L.P. Increases Stock Position in Churchill Downs, Incorporated $CHDN

Balyasny Asset Management L.P. boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 94.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,020,393 shares of the company’s stock after buying an additional 494,553 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Churchill Downs were worth $116,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHDN. Measured Wealth Private Client Group LLC acquired a new position in shares of Churchill Downs in the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $38,000. Finally, TFC Financial Management Inc. acquired a new position in shares of Churchill Downs in the 4th quarter valued at $47,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CHDN shares. Mizuho lifted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Citizens Jmp lifted their target price on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Trading Down 2.3%

Shares of CHDN stock opened at $87.76 on Thursday. The business’s 50 day moving average is $89.70 and its two-hundred day moving average is $96.39. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The company has a market capitalization of $6.12 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.59 and a beta of 0.68. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. Equities analysts forecast that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Churchill Downs Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.