Eldorado Resorts Inc (ERI) Major Shareholder Sells $427,920.64 in Stock
Eldorado Resorts Inc (NASDAQ:ERI) major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.51, for a total transaction of $427,920.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Hotel Casino Management, Inc. also recently made the following trade(s):
- On Tuesday, May 23rd, Hotel Casino Management, Inc. sold 750,000 shares of Eldorado Resorts stock. The shares were sold at an average price of $20.66, for a total transaction of $15,495,000.00.
Eldorado Resorts Inc (NASDAQ:ERI) traded up 1.22% during mid-day trading on Wednesday, reaching $20.80. 471,034 shares of the company’s stock were exchanged. Eldorado Resorts Inc has a 52 week low of $10.65 and a 52 week high of $21.15. The stock has a market cap of $1.57 billion, a P/E ratio of 44.35 and a beta of 1.07. The stock has a 50-day moving average price of $19.55 and a 200-day moving average price of $17.00.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.16. Eldorado Resorts had a net margin of 15.05% and a return on equity of 47.48%. The business had revenue of $200.90 million for the quarter, compared to the consensus estimate of $209.75 million. During the same quarter last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, analysts forecast that Eldorado Resorts Inc will post $0.66 earnings per share for the current year.
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A number of analysts have commented on the stock. TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Zacks Investment Research lowered shares of Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research note on Monday, March 13th. Finally, Imperial Capital upped their price objective on shares of Eldorado Resorts from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 15th.
Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new stake in Eldorado Resorts during the first quarter valued at approximately $140,000. PNC Financial Services Group Inc. boosted its stake in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock valued at $300,000 after buying an additional 2,940 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Eldorado Resorts during the first quarter valued at approximately $312,000. American International Group Inc. boosted its stake in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock valued at $334,000 after buying an additional 1,170 shares during the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in Eldorado Resorts during the fourth quarter valued at approximately $364,000. Institutional investors and hedge funds own 54.74% of the company’s stock.
Eldorado Resorts Company 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.
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