Churchill Downs Inc. (NASDAQ:CHDN) gapped up prior to trading on Friday . The stock had previously closed at $125.37, but opened at $125.71. Churchill Downs shares last traded at $129.17, with a volume of 41,254 shares traded.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Churchill Downs from a “hold” rating to a “strong sell” rating in a research report on Friday, May 20th. Janney Montgomery Scott reiterated a “buy” rating and issued a $155.00 target price on shares of Churchill Downs in a research report on Tuesday, May 10th. Finally, Hilliard Lyons upgraded Churchill Downs from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $159.33.

The stock’s 50 day moving average is $123.99 and its 200 day moving average is $134.60. The company has a market cap of $2.14 billion and a price-to-earnings ratio of 32.59.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Friday, April 29th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.32. The firm had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $275 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts forecast that Churchill Downs Inc. will post $5.55 earnings per share for the current fiscal year.

In other news, EVP Marcia A. Dall purchased 1,000 shares of Churchill Downs stock in a transaction dated Tuesday, May 3rd. The shares were purchased at an average price of $129.96 per share, with a total value of $129,960.00. Following the transaction, the executive vice president now owns 1,000 shares in the company, valued at $129,960. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William C. Carstanjen sold 4,500 shares of Churchill Downs stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $144.96, for a total transaction of $652,320.00. Following the sale, the chief executive officer now directly owns 108,502 shares in the company, valued at approximately $15,728,449.92. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in CHDN. Marshall Wace LLP raised its stake in Churchill Downs by 241.9% in the fourth quarter. Marshall Wace LLP now owns 24,177 shares of the company’s stock valued at $3,421,000 after buying an additional 17,106 shares during the last quarter. Wells Fargo & Company MN raised its stake in Churchill Downs by 13.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,413 shares of the company’s stock valued at $2,322,000 after buying an additional 2,009 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Churchill Downs during the fourth quarter valued at approximately $1,495,000. Artemis Investment Management LLP raised its stake in Churchill Downs by 151.3% in the fourth quarter. Artemis Investment Management LLP now owns 40,431 shares of the company’s stock valued at $5,721,000 after buying an additional 24,344 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Churchill Downs by 4.1% in the fourth quarter. New York State Common Retirement Fund now owns 12,800 shares of the company’s stock valued at $1,811,000 after buying an additional 500 shares during the last quarter.

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.

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