American International Group Inc. raised its position in Eldorado Resorts, Inc. (NASDAQ:ERI) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,642 shares of the company’s stock after buying an additional 1,170 shares during the period. American International Group Inc.’s holdings in Eldorado Resorts were worth $334,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Alambic Investment Management L.P. increased its position in Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock worth $852,000 after buying an additional 400 shares in the last quarter. RWC Asset Management LLP increased 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 in the last quarter. Airain ltd acquired a new position in Eldorado Resorts during the first quarter worth approximately $625,000. Trexquant Investment LP acquired a new position in Eldorado Resorts during the first quarter worth approximately $457,000. Finally, Parametric Portfolio Associates LLC increased its position in Eldorado Resorts by 50.7% in the first quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock worth $1,425,000 after buying an additional 25,325 shares in the last quarter. Institutional investors own 65.18% of the company’s stock.
Shares of Eldorado Resorts, Inc. (NASDAQ:ERI) opened at 20.60 on Friday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 43.92 and a beta of 1.01. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $21.83. The company has a 50-day moving average of $20.24 and a 200 day moving average of $18.54.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.16. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The firm had revenue of $200.90 million during the quarter, compared to the consensus estimate of $209.75 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Eldorado Resorts, Inc. will post $0.67 earnings per share for the current year.
A number of research firms have recently commented on ERI. Imperial Capital increased their price objective on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. BidaskClub downgraded shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. Finally, J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a research note on Thursday. They issued an “overweight” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus price target of $22.33.
In other news, insider Thomas Reeg acquired 2,500 shares of Eldorado Resorts 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 transaction, the insider now owns 46,200 shares of the company’s stock, valued at approximately $925,386. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $20.66, for a total transaction of $15,495,000.00. The disclosure for this sale can be found here. Corporate 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.
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