Eldorado Resorts, Inc. (NASDAQ:ERI) Position Boosted by UBS Group AG

UBS Group AG increased its position in Eldorado Resorts, Inc. (NASDAQ:ERI) by 246.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,932 shares of the company’s stock after buying an additional 14,176 shares during the period. UBS Group AG’s holdings in Eldorado Resorts were worth $377,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. FMR LLC raised its position in Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock worth $36,660,000 after buying an additional 1,396,588 shares during the last quarter. Westfield Capital Management Co. LP raised its position 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. Vanguard Group Inc. raised its position in Eldorado Resorts by 12.7% in the first quarter. Vanguard Group Inc. now owns 1,097,745 shares of the company’s stock worth $20,774,000 after buying an additional 123,700 shares during the last quarter. RWC Asset Management LLP raised its position in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock worth $15,573,000 after buying an additional 378,024 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 last quarter. Institutional investors own 65.18% of the company’s stock.

Eldorado Resorts, Inc. (NASDAQ:ERI) opened at 22.30 on Friday. The firm has a 50-day moving average price of $20.57 and a 200-day moving average price of $19.29. Eldorado Resorts, Inc. has a one year low of $10.65 and a one year high of $23.50.

Eldorado Resorts (NASDAQ:ERI) last released its 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 net margin of 3.38% and a negative return on equity of 8.03%. The company had revenue of $355.20 million during the quarter, compared to the consensus estimate of $354.15 million. Eldorado Resorts’s revenue was up 53.6% on a year-over-year basis. Equities research analysts predict that Eldorado Resorts, Inc. will post ($0.29) EPS for the current year.

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ERI has been the topic of a number of recent analyst reports. Zacks Investment Research raised Eldorado Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. Imperial Capital reaffirmed an “outperform” rating and issued a $26.00 price objective (up from $24.00) on shares of Eldorado Resorts in a report on Friday, May 5th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Finally, J P Morgan Chase & Co started coverage on Eldorado Resorts in a report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.33.

In related news, insider Thomas Reeg bought 2,500 shares of the stock in a transaction dated Friday, June 16th. The stock was bought at an average price of $20.03 per share, with a total value of $50,075.00. Following the purchase, the insider now owns 46,200 shares in the company, valued at approximately $925,386. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the business’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 disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

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.

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

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