Eldorado Resorts, Inc. (NASDAQ:ERI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, August 8th.
A number of other research firms have also recently commented on ERI. Zacks Investment Research raised shares of 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 objective (up from $24.00) on shares of Eldorado Resorts in a research report on Friday, May 5th. TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Finally, J P Morgan Chase & Co initiated coverage on shares of Eldorado Resorts in a research report on Thursday, July 20th. They set 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 company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.33.
Shares of Eldorado Resorts (NASDAQ ERI) opened at 22.30 on Tuesday. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $23.50. The company’s 50 day moving average is $20.57 and its 200 day moving average is $19.29.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ 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 company had revenue of $355.20 million for the quarter, compared to the consensus estimate of $354.15 million. The firm’s revenue for the quarter was up 53.6% compared to the same quarter last year. On average, analysts predict that Eldorado Resorts will post ($0.29) EPS for the current year.
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In other Eldorado Resorts news, insider Thomas Reeg bought 2,500 shares of Eldorado Resorts 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 completion of the transaction, the insider now owns 46,200 shares in the company, valued at approximately $925,386. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $15,495,000.00. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. boosted its stake in shares of 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 during the last quarter. American International Group Inc. boosted its stake in shares of 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 last quarter. Victory Capital Management Inc. increased its position in Eldorado Resorts by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the period. Teachers Advisors LLC increased its position in Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock worth $961,000 after buying an additional 1,558 shares during the period. Finally, PNC Financial Services Group Inc. increased its position 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. 65.18% of the stock is owned by institutional investors.
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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