American International Group Inc. Buys 1,170 Shares of Eldorado Resorts, Inc. (NASDAQ:ERI)

American International Group Inc. increased its position in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) by 7.1% during the first quarter, according to its most recent disclosure 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in Eldorado Resorts during the first quarter worth $457,000. Symphony Asset Management LLC acquired a new stake in shares of Eldorado Resorts during the first quarter valued at $527,000. Sei Investments Co. acquired a new stake in shares of Eldorado Resorts during the first quarter valued at $578,000. State Board of Administration of Florida Retirement System increased its stake 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 valued at $590,000 after buying an additional 111 shares in the last quarter. Finally, Airain ltd acquired a new stake in shares of Eldorado Resorts during the first quarter valued at $625,000. Hedge funds and other institutional investors own 65.18% of the company’s stock.

Eldorado Resorts, Inc. (NASDAQ:ERI) opened at 20.20 on Tuesday. Eldorado Resorts, Inc. has a one year low of $10.65 and a one year high of $21.83. The firm has a 50-day moving average price of $20.10 and a 200-day moving average price of $18.79.

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Several analysts recently weighed in on the company. Imperial Capital upped their price objective on Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. BidaskClub downgraded Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price objective for the company. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research upgraded Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.33.

In other news, insider Thomas Reeg purchased 2,500 shares of the company’s stock in a transaction 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 completion of the purchase, the insider now directly owns 46,200 shares in the company, valued at approximately $925,386. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of Eldorado Resorts stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.51, for a total value of $427,920.64. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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.