OppenheimerFunds Inc. increased its position in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 4,099.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,544 shares of the company’s stock after purchasing an additional 478,864 shares during the quarter. OppenheimerFunds Inc.’s holdings in Eldorado Resorts were worth $22,904,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its position in Eldorado Resorts by 3,877.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 941,858 shares of the company’s stock valued at $26,000 after acquiring an additional 918,176 shares in the last quarter. US Bancorp DE acquired a new stake in Eldorado Resorts in the 1st quarter valued at about $38,000. Mascoma Wealth Management LLC acquired a new stake in Eldorado Resorts in the 1st quarter valued at about $47,000. Bank of Montreal Can increased its position in Eldorado Resorts by 23.9% in the 4th quarter. Bank of Montreal Can now owns 4,269 shares of the company’s stock valued at $154,000 after acquiring an additional 824 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Eldorado Resorts in the 1st quarter valued at about $199,000. Institutional investors and hedge funds own 85.72% of the company’s stock.
Several equities research analysts have weighed in on ERI shares. Roth Capital restated a “buy” rating on shares of Eldorado Resorts in a research report on Thursday, February 28th. Jefferies Financial Group set a $58.00 price objective on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Thursday, February 28th. Deutsche Bank restated a “buy” rating and issued a $56.00 price objective on shares of Eldorado Resorts in a research report on Thursday, February 28th. BidaskClub cut shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus started coverage on shares of Eldorado Resorts in a research report on Wednesday, June 5th. They issued a “buy” rating and a $62.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.71.
Shares of NASDAQ ERI opened at $52.34 on Friday. The stock has a market capitalization of $4.00 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.65. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.93 and a current ratio of 0.98. Eldorado Resorts Inc has a 1 year low of $31.86 and a 1 year high of $53.21.
Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $627.75 million for the quarter, compared to analyst estimates of $660.92 million. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Analysts expect that Eldorado Resorts Inc will post 2.32 EPS for the current year.
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About Eldorado Resorts
Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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.
Further Reading: Book Value Per Share – BVPS
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