Eldorado Resorts Inc (NASDAQ:ERI) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 100,839 shares of the company’s stock after selling 2,242 shares during the period. California State Teachers Retirement System’s holdings in Eldorado Resorts were worth $4,708,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in shares of Eldorado Resorts in the 1st quarter valued at about $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Eldorado Resorts in the 1st quarter valued at about $199,000. Mason Street Advisors LLC raised its stake in shares of Eldorado Resorts by 1.6% in the 1st quarter. Mason Street Advisors LLC now owns 34,589 shares of the company’s stock valued at $1,615,000 after purchasing an additional 538 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of Eldorado Resorts by 1.4% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,717,064 shares of the company’s stock valued at $172,893,000 after purchasing an additional 49,705 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Eldorado Resorts by 128.7% in the 1st quarter. New York State Teachers Retirement System now owns 65,400 shares of the company’s stock valued at $3,054,000 after purchasing an additional 36,800 shares during the period. 85.72% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ERI opened at $52.34 on Friday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.93 and a current ratio of 0.98. The stock has a market capitalization of $4.00 billion, a P/E ratio of 34.16, a P/E/G ratio of 1.11 and a beta of 1.65. Eldorado Resorts Inc has a 52-week low of $31.86 and a 52-week high of $53.21.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business had revenue of $627.75 million for the quarter, compared to the consensus estimate of $660.92 million. Eldorado Resorts had a return on equity of 11.41% and a net margin of 5.00%. Eldorado Resorts’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, analysts anticipate that Eldorado Resorts Inc will post 2.32 earnings per share for the current year.

ERI has been the topic of several recent research reports. Deutsche Bank reissued a “buy” rating and issued a $56.00 price target on shares of Eldorado Resorts in a research note on Thursday, February 28th. Roth Capital reaffirmed a “buy” rating on shares of Eldorado Resorts in a research report on Thursday, February 28th. BidaskClub downgraded Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Nomura lifted their target price on Eldorado Resorts from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Finally, Jefferies Financial Group set a $58.00 target price on Eldorado Resorts and gave the company a “buy” rating in a research report on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $54.71.

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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: Earnings Per Share

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

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