Vanguard Group Inc. raised its position in Eldorado Resorts, Inc. (NASDAQ:ERI) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,745 shares of the company’s stock after buying an additional 123,700 shares during the period. Vanguard Group Inc. owned about 2.33% of Eldorado Resorts worth $20,774,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 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. Sei Investments Co. acquired a new position in Eldorado Resorts during the first quarter worth $578,000. Trexquant Investment LP acquired a new position in Eldorado Resorts during the first quarter worth $457,000. 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. Finally, Marshall Wace North America L.P. acquired a new position in Eldorado Resorts during the first quarter worth $1,944,000. 65.18% of the stock is currently owned by institutional investors and hedge funds.
Eldorado Resorts, Inc. (NASDAQ:ERI) traded down 0.108% during mid-day trading on Wednesday, reaching $23.175. The company had a trading volume of 86,691 shares. The stock has a 50-day moving average of $20.64 and a 200 day moving average of $19.39. Eldorado Resorts, Inc. has a 12-month low of $10.65 and a 12-month high of $23.50.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of $0.25 by $0.95. The company had revenue of $355.20 million during the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The business’s revenue for the quarter was up 53.6% on a year-over-year basis. On average, analysts forecast that Eldorado Resorts, Inc. will post ($0.29) EPS for the current fiscal year.
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ERI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Imperial Capital restated an “outperform” rating and issued a $26.00 price target (up from $24.00) on shares of Eldorado Resorts in a research note on Friday, May 5th. BidaskClub downgraded Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. J P Morgan Chase & Co started coverage on Eldorado Resorts in a research note on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price target for the company. Finally, TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $25.00.
In related news, insider Thomas Reeg acquired 2,500 shares of Eldorado Resorts 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 purchase, the insider now directly owns 46,200 shares of the company’s stock, valued at approximately $925,386. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.14% 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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