Balyasny Asset Management L.P. Grows Stock Holdings in Churchill Downs, Incorporated $CHDN

Balyasny Asset Management L.P. raised its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 94.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,020,393 shares of the company’s stock after buying an additional 494,553 shares during the period. Balyasny Asset Management L.P. owned about 1.46% of Churchill Downs worth $116,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CHDN. Norges Bank acquired a new stake in Churchill Downs during the 4th quarter worth approximately $90,529,000. AQR Capital Management LLC lifted its holdings in Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after buying an additional 784,591 shares in the last quarter. Alua Capital Management LP acquired a new stake in Churchill Downs during the 3rd quarter worth approximately $48,532,000. Arrowstreet Capital Limited Partnership lifted its holdings in Churchill Downs by 49.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after buying an additional 452,716 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Churchill Downs by 16.3% during the 3rd quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock worth $300,595,000 after buying an additional 434,669 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Stock Down 2.3%

CHDN stock opened at $87.76 on Thursday. The company’s 50 day moving average price is $89.70 and its 200 day moving average price is $96.39. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.59 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. The business had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. On average, equities research analysts anticipate that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal 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.