Balyasny Asset Management LLC Cuts Holdings in Churchill Downs, Incorporated (CHDN)
Balyasny Asset Management LLC lowered its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 64.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,083 shares of the company’s stock after selling 131,688 shares during the quarter. Balyasny Asset Management LLC owned about 0.44% of Churchill Downs, worth $13,030,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Citigroup Inc. raised its position in shares of Churchill Downs, by 352.2% during the 2nd quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after purchasing an additional 560 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Churchill Downs, during the 2nd quarter worth approximately $161,000. LS Investment Advisors LLC raised its position in shares of Churchill Downs, by 19.8% during the 2nd quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock worth $163,000 after purchasing an additional 147 shares during the period. Strs Ohio raised its position in shares of Churchill Downs, by 150.0% during the 2nd quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after purchasing an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new stake in shares of Churchill Downs, during the 2nd quarter worth approximately $203,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.
CHDN has been the topic of a number of research reports. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Telsey Advisory Group increased their price target on Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research report on Sunday, July 30th. Finally, Zacks Investment Research upgraded Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 price target on the stock in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Churchill Downs, currently has a consensus rating of “Buy” and an average target price of $206.33.
Shares of Churchill Downs, Incorporated (NASDAQ CHDN) opened at 207.20 on Thursday. The firm has a market capitalization of $3.34 billion, a PE ratio of 28.32 and a beta of 0.86. The stock’s 50 day moving average price is $198.29 and its 200-day moving average price is $179.75. Churchill Downs, Incorporated has a 12 month low of $131.70 and a 12 month high of $208.93.
Churchill Downs, (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.30. The firm had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.11 earnings per share. On average, equities analysts anticipate that Churchill Downs, Incorporated will post $6.75 earnings per share for the current fiscal year.
In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs, stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $195.00, for a total value of $975,000.00. Following the completion of the transaction, the director now owns 95,878 shares in the company, valued at $18,696,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.44% of the stock is owned by company insiders.
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Churchill Downs, Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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