Eldorado Resorts Inc (ERI) Short Interest Up 40.6% in August

Eldorado Resorts Inc (NASDAQ:ERI) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 12,592,418 shares, a growth of 40.6% from the August 15th total of 8,953,869 shares. Approximately 21.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,023,185 shares, the short-interest ratio is presently 6.2 days.

In other Eldorado Resorts news, Director James B. Hawkins purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average price of $46.50 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the director now directly owns 108,832 shares of the company’s stock, valued at $5,060,688. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James B. Hawkins purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $169,800.00. Following the purchase, the director now directly owns 107,832 shares of the company’s stock, valued at $4,577,468.40. The disclosure for this purchase can be found here. Insiders have acquired 6,000 shares of company stock worth $261,900 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ERI. Wells Fargo & Company MN raised its holdings in shares of Eldorado Resorts by 651.7% in the first quarter. Wells Fargo & Company MN now owns 1,332,982 shares of the company’s stock valued at $43,989,000 after buying an additional 1,155,658 shares during the last quarter. Trexquant Investment LP bought a new stake in Eldorado Resorts during the 1st quarter worth about $663,000. American Century Companies Inc. bought a new stake in Eldorado Resorts during the 1st quarter worth about $655,000. Virginia Retirement Systems ET AL raised its holdings in Eldorado Resorts by 44.9% during the 1st quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the company’s stock worth $842,000 after purchasing an additional 7,900 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Eldorado Resorts by 1.8% during the 1st quarter. Swiss National Bank now owns 86,444 shares of the company’s stock worth $2,853,000 after purchasing an additional 1,500 shares during the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on ERI. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Roth Capital boosted their target price on shares of Eldorado Resorts from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 12th. Finally, Telsey Advisory Group boosted their target price on shares of Eldorado Resorts from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $46.94.

Shares of NASDAQ:ERI opened at $49.00 on Friday. Eldorado Resorts has a 52 week low of $23.95 and a 52 week high of $50.00. The company has a debt-to-equity ratio of 2.20, a quick ratio of 2.25 and a current ratio of 2.32. The firm has a market capitalization of $3.61 billion, a PE ratio of 4,900.00 and a beta of 1.08.

Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.05). Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. The business had revenue of $456.80 million during the quarter, compared to the consensus estimate of $461.57 million. During the same period in the prior year, the firm earned ($0.68) earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. sell-side analysts forecast that Eldorado Resorts will post 1.84 EPS for the current year.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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.

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