Fox Run Management L.L.C. purchased a new position in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,400 shares of the company’s stock, valued at approximately $208,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC acquired a new stake in Eldorado Resorts during the fourth quarter worth $9,162,000. Sei Investments Co. acquired a new stake in Eldorado Resorts during the first quarter worth $578,000. Westfield Capital Management Co. LP boosted its stake in Eldorado Resorts by 23.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,521,901 shares of the company’s stock worth $28,802,000 after buying an additional 286,205 shares during the last quarter. Trexquant Investment LP acquired a new stake in Eldorado Resorts during the first quarter worth $457,000. Finally, Marshall Wace North America L.P. acquired a new stake in Eldorado Resorts during the first quarter worth $1,944,000. Institutional investors and hedge funds own 65.18% of the company’s stock.
Shares of Eldorado Resorts, Inc. (ERI) traded up 0.90% during trading on Friday, hitting $22.30. The stock had a trading volume of 546,155 shares. The stock’s 50-day moving average is $20.57 and its 200-day moving average is $19.29. Eldorado Resorts, Inc. has a 12-month low of $10.65 and a 12-month high of $23.50.
Eldorado Resorts (NASDAQ:ERI) last announced its earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $355.20 million for the quarter, compared to analyst estimates of $354.15 million. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. Equities analysts forecast that Eldorado Resorts, Inc. will post ($0.29) earnings per share for the current fiscal year.
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ERI has been the subject of a number of research reports. Zacks Investment Research raised Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. Imperial Capital reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $24.00) on shares of Eldorado Resorts in a research report on Friday, May 5th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price objective for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Eldorado Resorts presently has a consensus rating of “Buy” and an average price target of $22.33.
In related news, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $20.66, for a total value of $15,495,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Reeg acquired 2,500 shares of Eldorado Resorts stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average price of $20.03 per share, with a total value of $50,075.00. Following the transaction, 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 corporate insiders.
About Eldorado Resorts
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.
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