Balyasny Asset Management Lowers stake in Churchill Downs (CHDN)

Churchill Downs (CHDN) : Balyasny Asset Management reduced its stake in Churchill Downs by 18.46% during the most recent quarter end. The investment management company now holds a total of 787,039 shares of Churchill Downs which is valued at $113,727,136 after selling 178,231 shares in Churchill Downs , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Churchill Downs makes up approximately 0.68% of Balyasny Asset Management’s portfolio.

Other Hedge Funds, Including , D. E. Shaw reduced its stake in CHDN by selling 9,768 shares or 10.37% in the most recent quarter. The Hedge Fund company now holds 84,425 shares of CHDN which is valued at $12,001,014. Churchill Downs makes up approx 0.03% of D. E. Shaw’s portfolio.Comerica Bank boosted its stake in CHDN in the latest quarter, The investment management firm added 333 additional shares and now holds a total of 6,699 shares of Churchill Downs which is valued at $935,515. Churchill Downs makes up approx 0.01% of Comerica Bank’s portfolio. Strs Ohio added CHDN to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $81,288.

Churchill Downs opened for trading at $149.15 and hit $153.05 on the upside on Monday, eventually ending the session at $152.3, with a gain of 2.15% or 3.2 points. The heightened volatility saw the trading volume jump to 1,21,408 shares. Company has a market cap of $2,529 M.

On the company’s financial health, Churchill Downs reported $0.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.42 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $0.94. The company had revenue of $303.40 million for the quarter, compared to analysts expectations of $301.86 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Churchill Downs. Shares were Reiterated by Telsey Advisory Group on Oct 31, 2016 to “Outperform” and Lowered the Price Target to $ 172 from a previous price target of $176 .Company shares were Reiterated by Imperial Capital on Oct 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 165 from a previous price target of $145 .Churchill Downs was Initiated by JP Morgan to “Neutral” on Sep 22, 2016.

Churchill Downs Incorporated is a diversified provider of pari-mutuel horseracing online account wagering on horseracing and casino gaming. The Company is the producers and distributors of online and mobile casual games. It operates in five segments: Racing Casinos TwinSpires Big Fish Games Inc. (Big Fish Games) and Other Investments. Its racing segment includes Churchill Downs Racetrack Arlington International Race Course Fair Grounds Race Course and Calder Race Course. Casinos segment includes Oxford Casino Riverwalk Casino Hotel and Harlow’s Casino Resort & Spa among others. The TwinSpires maintains computerized databases of pedigree and racing information for the thoroughbred horse industry. Big Fish Games develops casual games for Personal Computers (PCs) and mobile devices. Other Investments include Capital View Casino & Resort United Tote and Bluff Media.

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