Learn Why Par Investment Partners Lp Purchased Churchill Downs Inc Stake?

February 15, 2018 - By Migdalia James

 Learn Why Par Investment Partners Lp Purchased Churchill Downs Inc Stake?

Investors sentiment increased to 1.82 in 2017 Q3. Its up 0.22, from 1.6 in 2017Q2. It is positive, as 9 investors sold Churchill Downs Incorporated shares while 46 reduced holdings. 31 funds opened positions while 69 raised stakes. 10.99 million shares or 1.12% less from 11.11 million shares in 2017Q2 were reported.

Schroder Group invested 0.01% of its portfolio in Churchill Downs Incorporated (NASDAQ:CHDN). Oakworth Cap holds 0.02% in Churchill Downs Incorporated (NASDAQ:CHDN) or 300 shares. Campbell & Communication Inv Adviser Limited Liability Corp invested in 998 shares. Gsa Prtnrs Ltd Liability Partnership holds 1,068 shares. Kj Harrison & Ptnrs Inc stated it has 3,070 shares. 32,600 are owned by Brant Point Investment Mgmt Ltd Liability Com. Louisiana State Employees Retirement holds 0.03% in Churchill Downs Incorporated (NASDAQ:CHDN) or 3,500 shares. Mutual Of America Mngmt Limited Liability Com holds 0.04% or 10,528 shares in its portfolio. Emerald Mutual Fund Advisers invested in 32,264 shares or 0.28% of the stock. Parthenon Limited Liability Corp reported 25,356 shares. Quantbot Tech L P invested in 97 shares or 0% of the stock. 429 were reported by Citigroup. Commonwealth Of Pennsylvania Public School Empls Retrmt System reported 1,888 shares stake. Goldman Sachs Gp stated it has 21,703 shares. Teton Advsrs Incorporated accumulated 37,340 shares.

Since August 31, 2017, it had 0 insider purchases, and 2 sales for $1.97 million activity.

The New Par Investment Partners Lp Holding in Churchill Downs Inc

Par Investment Partners Lp reported SC 13G/A form with the SEC for Churchill Downs Inc. Access it here: 000119312518045368. As reported by Par Investment Partners Lp, the filler owns 5.3% or 813,165 shares of the Consumer Discretionary–company.

Churchill Downs Inc stake is new for [reportingPerson]. Date of activity: December31, 2017. This shows Par Investment Partners Lp’s positive view for Churchill Downs Inc.

Churchill Downs Inc Institutional Sentiment

Filings show 128 investors own Churchill Downs Inc. The ownership in Q3 2015 is high, at Infinity of the outstanding shares. This is increased by 9152443. 19961132 were owned by these investors. 21 funds opened new Churchill Downs Inc stakes, 48 increased positions. There were 12 that closed positions and 40 reduced them.

7 investors had the stock in their top 10. Some are: Three Bays Capital Lp, Cypress Funds Llc..

Paul Reeder And Edward Shapiro Par Capital Management Inc is an investor bullish on Churchill Downs Inc, owning 1286544 shares as of Q3 2015 for 3.63% of its portfolio. Elk Creek Partners Llc owns 163428 shares or 1.77% of its portfolio. NY Clovis Capital Management Lp have 5.26% of its portfolio for 147500 shares. Further, Three Bays Capital Lp reported stake worth 7.73% of its portfolio. The IL Balyasny Asset Management Llc owns 1010127 shares. Churchill Downs Inc is 1.00% of its portfolio.

Business 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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate. Racing includes four racetracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course. Casinos is a provider of brick-and-mortar real-money casino gaming. TwinSpires operates mobile and online wagering business, which is a platform for betting on horseracing. Other Investments includes United Tote and Capital View Casino & Resort Joint Venture (Capital View).

SEC Form 13G.

Analysts await Churchill Downs Incorporated (NASDAQ:CHDN) to report earnings on February, 27. They expect $0.44 EPS, down 35.29 % or $0.24 from last year’s $0.68 per share. CHDN’s profit will be $6.70 million for 146.99 P/E if the $0.44 EPS becomes a reality. After $1.08 actual EPS reported by Churchill Downs Incorporated for the previous quarter, Wall Street now forecasts -59.26 % negative EPS growth.

The stock increased 1.81% or $4.6 during the last trading session, reaching $258.7. About 50,404 shares traded. Churchill Downs Incorporated (NASDAQ:CHDN) has risen 34.01% since February 15, 2017 and is uptrending. It has outperformed by 17.31% the S&P500.

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company. The company has market cap of $3.94 billion. It operates through Racing, Casinos, TwinSpires, Big Fish Games, and Other Investments divisions. It has a 32.46 P/E ratio. The firm operates racing facilities, such as Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 10 off-track betting facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

Churchill Downs Incorporated (NASDAQ:CHDN) Ratings Coverage

Among 5 analysts covering Churchill Downs (NASDAQ:CHDN), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Churchill Downs has $261 highest and $150 lowest target. $213.67’s average target is -17.41% below currents $258.7 stock price. Churchill Downs had 9 analyst reports since September 14, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Monday, October 31 by Telsey Advisory Group. The stock of Churchill Downs Incorporated (NASDAQ:CHDN) has “Neutral” rating given on Thursday, September 22 by JP Morgan. The firm has “Outperform” rating given on Friday, February 26 by Telsey Advisory Group. The firm has “Outperform” rating by Telsey Advisory Group given on Friday, August 5. Imperial Capital maintained the stock with “Outperform” rating in Friday, October 14 report. On Friday, May 6 the stock rating was upgraded by Hilliard Lyons to “Buy”. The company was maintained on Monday, September 14 by Imperial Capital.

More notable recent Churchill Downs Incorporated (NASDAQ:CHDN) news were published by: Bizjournals.com which released: “Churchill Downs pursuing new wagering option in Kentucky” on June 20, 2017, also Globenewswire.com with their article: “Churchill Downs Incorporated Announces Cash Tender Offer for Up to $500000000 …” published on January 10, 2018, Bizjournals.com published: “Churchill Downs creating nearly 100 Louisville HQ jobs by end of year” on May 30, 2017. More interesting news about Churchill Downs Incorporated (NASDAQ:CHDN) were released by: Bizjournals.com and their article: “Now we know the name of Churchill Downs’ new gaming facility in Louisville” published on December 20, 2017 as well as Courier-Journal.com‘s news article titled: “Churchill Downs is selling Big Fish Games – its mobile gaming company – for …” with publication date: November 30, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.