Shares of Churchill Downs Inc. (NASDAQ:CHDN) gapped up before the market opened 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 trading hands.

Several research firms have weighed in on CHDN. Zacks Investment Research upgraded Churchill Downs from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research note on Wednesday, April 27th. Janney Montgomery Scott reiterated a “buy” rating and set a $155.00 price target on shares of Churchill Downs in a research note on Tuesday, May 10th. Finally, Hilliard Lyons upgraded Churchill Downs from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, May 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Churchill Downs currently has a consensus rating of “Buy” and an average price target of $159.33.

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

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Friday, April 29th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.32. The firm earned $288.40 million during the quarter, compared to analyst estimates of $275 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts expect that Churchill Downs Inc. will post $5.55 earnings per share for the current year.

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

Other hedge funds have bought and sold shares of the company. Wells Fargo & Company MN boosted 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 worth $2,322,000 after buying an additional 2,009 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Churchill Downs by 9.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 59,844 shares of the company’s stock worth $8,468,000 after buying an additional 5,329 shares in the last quarter. Rhumbline Advisers boosted its stake in Churchill Downs by 3.5% in the fourth quarter. Rhumbline Advisers now owns 15,506 shares of the company’s stock worth $2,194,000 after buying an additional 519 shares in the last quarter. Marshall Wace LLP boosted 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 worth $3,421,000 after buying an additional 17,106 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Churchill Downs during the fourth quarter worth $1,495,000.

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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