Churchill Downs Incorporated (NASDAQ:CHDN) Stock Holdings Lifted by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 57.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 533,064 shares of the company's stock after purchasing an additional 193,677 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.73% of Churchill Downs worth $71,185,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CHDN. Vanguard Group Inc. lifted its stake in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after purchasing an additional 107,737 shares during the last quarter. FMR LLC lifted its position in Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after purchasing an additional 214,694 shares during the last quarter. Boston Partners boosted its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after purchasing an additional 366,283 shares during the period. Schroder Investment Management Group grew its position in Churchill Downs by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock worth $201,223,000 after purchasing an additional 77,213 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Churchill Downs by 4.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock valued at $179,557,000 after purchasing an additional 59,657 shares during the period. Institutional investors own 82.59% of the company's stock.

Insiders Place Their Bets

In other Churchill Downs news, Director Douglas C. Grissom bought 10,000 shares of Churchill Downs stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the acquisition, the director now directly owns 38,869 shares of the company's stock, valued at approximately $3,605,877.13. This trade represents a 34.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R Alex Rankin bought 2,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $92.65 per share, with a total value of $185,300.00. Following the transaction, the director now owns 99,012 shares of the company's stock, valued at $9,173,461.80. This trade represents a 2.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus lowered their target price on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays cut their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Truist Financial decreased their target price on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JMP Securities restated a "market outperform" rating and set a $144.00 price target on shares of Churchill Downs in a research report on Monday, May 5th. Finally, StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.50.

Churchill Downs Price Performance

CHDN stock traded up $1.32 on Friday, hitting $95.04. 986,890 shares of the company's stock traded hands, compared to its average volume of 551,504. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.95 and a beta of 1.02. Churchill Downs Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The stock has a fifty day moving average of $103.50 and a 200-day moving average of $121.77.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The company had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Churchill Downs's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. On average, analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its board has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Churchill Downs's dividend payout ratio is currently 7.12%.

Churchill Downs Profile

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; casino gaming; and Terre Haute Casino Resort.