California Public Employees Retirement System grew its position in Eldorado Resorts Inc (NASDAQ:ERI) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,521 shares of the company’s stock after buying an additional 1,800 shares during the quarter. California Public Employees Retirement System owned 0.20% of Eldorado Resorts worth $5,023,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Gamco Investors INC. ET AL purchased a new position in shares of Eldorado Resorts in the fourth quarter valued at $206,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Eldorado Resorts in the fourth quarter valued at $223,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Eldorado Resorts in the third quarter valued at $231,000. SG Americas Securities LLC purchased a new position in shares of Eldorado Resorts in the third quarter valued at $247,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Eldorado Resorts in the fourth quarter valued at $563,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
ERI has been the subject of a number of recent research reports. Jefferies Group initiated coverage on Eldorado Resorts in a research report on Thursday, January 18th. They set a “buy” rating and a $40.00 price objective for the company. BidaskClub upgraded Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. lifted their price objective on Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. Zacks Investment Research cut Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, SunTrust Banks reiterated an “average” rating and set a $36.00 price objective on shares of Eldorado Resorts in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $34.00.
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About Eldorado Resorts
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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