Goldman Sachs Group Inc. bought a new position in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 235,766 shares of the company’s stock, valued at approximately $4,462,000. Goldman Sachs Group Inc. owned approximately 0.50% of Eldorado Resorts as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in Eldorado Resorts during the first quarter worth about $140,000. PNC Financial Services Group Inc. raised its stake in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock worth $300,000 after buying an additional 2,940 shares during the period. Highbridge Capital Management LLC acquired a new stake in Eldorado Resorts during the first quarter worth about $312,000. American International Group Inc. raised its stake in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock worth $334,000 after buying an additional 1,170 shares during the period. Finally, UBS Group AG raised its stake in Eldorado Resorts by 246.3% in the first quarter. UBS Group AG now owns 19,932 shares of the company’s stock worth $377,000 after buying an additional 14,176 shares during the period. 65.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eldorado Resorts, Inc. (ERI) traded down 0.25% during mid-day trading on Friday, hitting $20.30. The stock had a trading volume of 254,689 shares. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $21.83. The stock has a 50 day moving average of $20.10 and a 200-day moving average of $18.79.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, May 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.20 by $0.16. Eldorado Resorts had a net margin of 2.49% and a return on equity of 7.95%. The firm had revenue of $200.90 million during the quarter, compared to analyst estimates of $209.75 million. During the same period in the previous year, the company posted $0.07 EPS. Eldorado Resorts’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts anticipate that Eldorado Resorts, Inc. will post $0.67 EPS for the current fiscal year.
A number of analysts have issued reports on the company. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. 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 target price on the stock. Imperial Capital raised their target price on Eldorado Resorts from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, May 15th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Finally, Zacks Investment Research raised Eldorado Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus target price of $22.33.
In other news, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was 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 SEC, which is available at this hyperlink. Also, insider Thomas Reeg bought 2,500 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was purchased at an average cost of $20.03 per share, for a total transaction of $50,075.00. Following the transaction, the insider now directly owns 46,200 shares of the company’s stock, valued at approximately $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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