SG Capital Management LLC Takes Position in Eldorado Resorts Inc (ERI)

SG Capital Management LLC bought a new position in shares of Eldorado Resorts Inc (NASDAQ:ERI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 507,376 shares of the company’s stock, valued at approximately $13,014,000. Eldorado Resorts accounts for about 1.4% of SG Capital Management LLC’s portfolio, making the stock its 12th biggest holding. SG Capital Management LLC owned about 0.66% of Eldorado Resorts at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Citigroup Inc. grew its holdings in shares of Eldorado Resorts by 58,900.0% in the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after purchasing an additional 5,890 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Eldorado Resorts by 8,127.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after purchasing an additional 7,640 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Eldorado Resorts by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after purchasing an additional 1,209 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $174,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $210,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on ERI. Zacks Investment Research downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. J P Morgan Chase & Co upped their price target on shares of Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. SunTrust Banks restated a “buy” rating and set a $29.00 target price on shares of Eldorado Resorts in a research report on Friday, November 3rd. BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Deutsche Bank assumed coverage on shares of Eldorado Resorts in a research report on Monday, September 25th. They set a “buy” rating and a $32.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $30.00.

In other Eldorado Resorts news, Director David P. Tomick purchased 1,700 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $28.70 per share, with a total value of $48,790.00. Following the purchase, the director now directly owns 10,400 shares of the company’s stock, valued at $298,480. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bonnie Biumi sold 13,079 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $29.50, for a total transaction of $385,830.50. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

Shares of Eldorado Resorts Inc (ERI) opened at $31.35 on Wednesday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78. Eldorado Resorts Inc has a 52-week low of $14.90 and a 52-week high of $31.48.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $444.87 million for the quarter, compared to the consensus estimate of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. Eldorado Resorts’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. research analysts forecast that Eldorado Resorts Inc will post -0.08 EPS for the current year.

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Eldorado Resorts 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.

Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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