State Treasurer State of Michigan acquired a new position in shares of Eldorado Resorts Inc (NASDAQ:ERI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 24,000 shares of the company’s stock, valued at approximately $1,166,000.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can lifted its position in shares of Eldorado Resorts by 282.7% during the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock worth $130,000 after buying an additional 2,468 shares during the last quarter. Strs Ohio purchased a new stake in Eldorado Resorts in the 2nd quarter valued at $156,000. FNY Investment Advisers LLC purchased a new stake in Eldorado Resorts in the 2nd quarter valued at $185,000. Securian Asset Management Inc purchased a new stake in Eldorado Resorts in the 3rd quarter valued at $387,000. Finally, Amalgamated Bank raised its position in Eldorado Resorts by 60.9% in the 2nd quarter. Amalgamated Bank now owns 10,064 shares of the company’s stock valued at $394,000 after purchasing an additional 3,811 shares during the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.
Shares of ERI opened at $38.19 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 2.25 and a current ratio of 2.32. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.08 and a beta of 1.08. Eldorado Resorts Inc has a 1 year low of $25.35 and a 1 year high of $50.64.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.05). The firm had revenue of $456.80 million during the quarter, compared to analyst estimates of $461.57 million. Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.68) earnings per share. As a group, equities research analysts expect that Eldorado Resorts Inc will post 1.61 EPS for the current year.
In other news, COO Anthony L. Carano acquired 1,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were bought at an average cost of $45.60 per share, with a total value of $45,600.00. Following the purchase, the chief operating officer now owns 26,979 shares of the company’s stock, valued at approximately $1,230,242.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Hawkins acquired 4,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $169,800.00. Following the completion of the purchase, the director now directly owns 107,832 shares in the company, valued at approximately $4,577,468.40. The disclosure for this purchase can be found here. Insiders acquired a total of 6,000 shares of company stock worth $261,900 over the last three months. 1.50% of the stock is currently owned by corporate insiders.
Several analysts recently commented on the stock. ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Jefferies Financial Group set a $57.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Friday, October 5th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Eldorado Resorts has a consensus rating of “Buy” and an average price target of $49.38.
Eldorado Resorts Profile
Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.
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