Bank of New York Mellon Corp lifted its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 463,303 shares of the company’s stock after buying an additional 40,379 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Eldorado Resorts worth $18,115,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ERI. Bank of Montreal Can grew its position in Eldorado Resorts by 282.7% in the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after purchasing an additional 2,468 shares during the period. Strs Ohio acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $156,000. Amalgamated Bank grew its position in Eldorado Resorts by 60.9% in the 2nd quarter. Amalgamated Bank now owns 10,064 shares of the company’s stock valued at $394,000 after purchasing an additional 3,811 shares during the period. Gamco Investors INC. ET AL grew its position in Eldorado Resorts by 64.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,200 shares of the company’s stock valued at $399,000 after purchasing an additional 4,000 shares during the period. Finally, United Services Automobile Association grew its position in Eldorado Resorts by 20.9% in the 2nd quarter. United Services Automobile Association now owns 13,302 shares of the company’s stock valued at $520,000 after purchasing an additional 2,304 shares during the period. 98.17% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Deutsche Bank set a $54.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Saturday, November 10th. Jefferies Financial Group set a $57.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Monday, November 26th. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $51.38.
In other news, Director James B. Hawkins acquired 1,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $46.50 per share, with a total value of $46,500.00. Following the acquisition, the director now directly owns 108,832 shares of the company’s stock, valued at $5,060,688. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael E. Pegram acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $339,100.00. Following the completion of the acquisition, the director now directly owns 100,529 shares in the company, valued at $3,408,938.39. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,000 shares of company stock worth $532,300 over the last ninety days. Insiders own 1.50% of the company’s stock.
ERI opened at $43.98 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 2.86. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 4,398.00, a PEG ratio of 1.18 and a beta of 1.47. Eldorado Resorts Inc has a 1 year low of $29.00 and a 1 year high of $50.64.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). The firm had revenue of $487.25 million for the quarter, compared to analysts’ expectations of $494.60 million. Eldorado Resorts had a return on equity of 12.38% and a net margin of 10.21%. Eldorado Resorts’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, analysts expect that Eldorado Resorts Inc will post 1.87 EPS for the current fiscal year.
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Eldorado Resorts 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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