Creative Planning Raises Stake in Eldorado Resorts, Inc. (NASDAQ:ERI)

Creative Planning increased its position in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) by 3,311.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,530 shares of the company’s stock after buying an additional 36,430 shares during the period. Creative Planning’s holdings in Eldorado Resorts were worth $751,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Eldorado Resorts by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 34,784 shares of the company’s stock worth $590,000 after buying an additional 111 shares during the period. FMR LLC acquired a new position in shares of Eldorado Resorts during the fourth quarter worth $9,162,000. Monarch Partners Asset Management LLC acquired a new position in shares of Eldorado Resorts during the first quarter worth $2,257,000. Bank of New York Mellon Corp boosted its position in shares of Eldorado Resorts by 82.6% in the first quarter. Bank of New York Mellon Corp now owns 393,181 shares of the company’s stock worth $7,441,000 after buying an additional 177,902 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Eldorado Resorts during the first quarter worth $578,000. 65.18% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Resorts, Inc. (ERI) traded up 0.90% on Friday, reaching $22.30. 546,155 shares of the company’s stock traded hands. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $23.50. The stock has a 50-day moving average of $20.50 and a 200 day moving average of $19.24.

Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.95. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The company had revenue of $355.20 million for the quarter, compared to analyst estimates of $354.15 million. Eldorado Resorts’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities research analysts expect that Eldorado Resorts, Inc. will post ($0.29) EPS for the current year.

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A number of research analysts recently weighed in on ERI shares. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Zacks Investment Research upgraded shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Imperial Capital boosted their price target on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Eldorado Resorts presently has an average rating of “Buy” and an average target price of $22.33.

In other Eldorado Resorts news, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of Eldorado Resorts stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $20.66, for a total value of $15,495,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Reeg acquired 2,500 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $20.03 per share, with a total value of $50,075.00. Following the acquisition, the insider now owns 46,200 shares of the company’s stock, valued at $925,386. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by company insiders.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.

Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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