Three Bays Capital LP Holding in Churchill Downs INC (CHDN) Has Cut by $59.23 Million

February 15, 2018 - By Nellie Frank

Investors sentiment increased to 1.82 in Q3 2017. Its up 0.22, from 1.6 in 2017Q2. It increased, as 9 investors sold CHDN 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. The Ontario – Canada-based Breton Hill Capital has invested 0.04% in Churchill Downs Incorporated (NASDAQ:CHDN). 1,790 are held by Van Eck Associate. Teachers Retirement Systems Of The State Of Kentucky reported 2,720 shares. Kbc Gru Nv reported 846 shares or 0% of all its holdings. Numeric Investors Lc invested 0% in Churchill Downs Incorporated (NASDAQ:CHDN). Prelude Capital Management Limited Liability Corporation has invested 0% in Churchill Downs Incorporated (NASDAQ:CHDN). Prudential reported 9,270 shares. Manufacturers Life Ins Company The owns 28,702 shares or 0.01% of their US portfolio. Emerald Advisers Pa reported 48,167 shares or 0.4% of all its holdings. Rhumbline Advisers has invested 0.01% in Churchill Downs Incorporated (NASDAQ:CHDN). Soros Fund Mgmt Ltd Limited Liability Company reported 1.05% stake. State Board Of Administration Of Florida Retirement System, Florida-based fund reported 5,690 shares. Oregon Public Employees Retirement Fund owns 4,771 shares. Smithfield reported 850 shares or 0.02% of all its holdings. Wedge Mngmt L LP Nc, a North Carolina-based fund reported 1,440 shares.

Since August 31, 2017, it had 0 insider buys, and 2 selling transactions for $1.97 million activity.

Three Bays Capital Lp decreased its stake in Churchill Downs Inc (CHDN) by 22.33% based on its latest 2017Q3 regulatory filing with the SEC. Three Bays Capital Lp sold 287,543 shares as the company’s stock rose 8.09% with the market. The institutional investor held 1.00M shares of the consumer services company at the end of 2017Q3, valued at $206.20 million, down from 1.29 million at the end of the previous reported quarter. Three Bays Capital Lp who had been investing in Churchill Downs Inc for a number of months, seems to be less bullish one the $3.99B market cap company. The stock increased 3.07% or $7.8 during the last trading session, reaching $261.9. About 83,429 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.

Three Bays Capital Lp, which manages about $1.36 billion and $1.34 billion US Long portfolio, upped its stake in Medicines Co (NASDAQ:MDCO) by 113,000 shares to 1.58M shares, valued at $58.39 million in 2017Q3, according to the filing. It also increased its holding in Hca Healthcare Inc (NYSE:HCA) by 40,000 shares in the quarter, for a total of 672,500 shares, and has risen its stake in Red Rock Resorts Inc.

Analysts await Churchill Downs Incorporated (NASDAQ:CHDN) to report earnings on February, 27. They expect $0.44 earnings per share, down 35.29 % or $0.24 from last year’s $0.68 per share. CHDN’s profit will be $6.70 million for 148.81 P/E if the $0.44 EPS becomes a reality. After $1.08 actual earnings per share reported by Churchill Downs Incorporated for the previous quarter, Wall Street now forecasts -59.26 % negative EPS growth.

More notable recent Churchill Downs Incorporated (NASDAQ:CHDN) news were published by: Investorplace.com which released: “Churchill Downs, Inc. Stock Just Cannot Seem to Lose” on November 06, 2017, also Globenewswire.com with their article: “Churchill Downs Incorporated Announces Closing of the Sale of Big Fish Games …” published on January 09, 2018, Globenewswire.com published: “Churchill Downs Incorporated Announces Cash Tender Offer for Up to $500000000 …” on January 10, 2018. 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: “Bitcoin extortion plot targeted Churchill Downs, but prosecutors and company …” with publication date: February 09, 2018.

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 had 9 analyst reports since September 14, 2015 according to SRatingsIntel. The company was maintained on Monday, September 14 by Imperial Capital. Telsey Advisory Group maintained the shares of CHDN in report on Friday, August 5 with “Outperform” rating. JP Morgan initiated the stock with “Neutral” rating in Thursday, September 22 report. The rating was upgraded by Hilliard Lyons on Friday, May 6 to “Buy”. The firm has “Outperform” rating by Imperial Capital given on Friday, October 14. The company was maintained on Friday, February 26 by Telsey Advisory Group. The stock of Churchill Downs Incorporated (NASDAQ:CHDN) earned “Outperform” rating by Telsey Advisory Group on Monday, October 31.

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