BidaskClub Downgrades Empire Resorts (NYNY) to Sell

BidaskClub cut shares of Empire Resorts (NASDAQ:NYNY) from a hold rating to a sell rating in a report issued on Tuesday morning.

Shares of Empire Resorts stock opened at $10.51 on Tuesday. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.45 and a quick ratio of 0.35. Empire Resorts has a twelve month low of $6.31 and a twelve month high of $24.10.

In other news, insider Emanuel R. Pearlman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $13.74, for a total transaction of $27,480.00. Following the sale, the insider now directly owns 125,722 shares in the company, valued at approximately $1,727,420.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 19,000 shares of company stock worth $214,760 over the last quarter. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Empire Resorts by 1.1% during the 4th quarter. BlackRock Inc. now owns 289,765 shares of the company’s stock worth $2,936,000 after purchasing an additional 3,047 shares during the period. Geode Capital Management LLC raised its position in shares of Empire Resorts by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 55,670 shares of the company’s stock worth $563,000 after purchasing an additional 997 shares during the period. Vanguard Group Inc raised its position in shares of Empire Resorts by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 54,925 shares of the company’s stock worth $510,000 after purchasing an additional 1,515 shares during the period. Bank of New York Mellon Corp raised its position in shares of Empire Resorts by 39.6% during the 4th quarter. Bank of New York Mellon Corp now owns 16,073 shares of the company’s stock worth $163,000 after purchasing an additional 4,557 shares during the period. Finally, IFP Advisors Inc acquired a new stake in shares of Empire Resorts during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 1.82% of the company’s stock.

About Empire Resorts

Empire Resorts, Inc engages in hospitality and gaming businesses in New York. The company owns and operates Monticello Casino and Raceway, a video gaming machine (VGM) and harness horseracing facility in Monticello that operates 1,110 VGMs, including 1,070 video lottery terminals and 40 electronic table game positions, as well as Resorts World Catskills, a casino resort located in Sullivan County, New York.

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