Millennium Management LLC trimmed its stake in Eldorado Resorts Inc (NASDAQ:ERI) by 11.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 576,153 shares of the company’s stock after selling 73,155 shares during the quarter. Millennium Management LLC owned about 0.74% of Eldorado Resorts worth $22,971,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in shares of Eldorado Resorts by 59.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 860 shares of the company’s stock worth $34,000 after purchasing an additional 320 shares during the period. NEXT Financial Group Inc raised its holdings in Eldorado Resorts by 1,824.3% in the second quarter. NEXT Financial Group Inc now owns 1,424 shares of the company’s stock valued at $65,000 after buying an additional 1,350 shares during the period. Marshall Wace LLP acquired a new position in Eldorado Resorts during the first quarter valued at approximately $69,000. Cerebellum GP LLC acquired a new position in Eldorado Resorts during the third quarter valued at approximately $73,000. Finally, Point72 Hong Kong Ltd grew its stake in Eldorado Resorts by 9,365.6% during the second quarter. Point72 Hong Kong Ltd now owns 3,029 shares of the company’s stock worth $140,000 after buying an additional 2,997 shares during the period. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Several research firms have recently issued reports on ERI. ValuEngine lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Morgan Stanley initiated coverage on shares of Eldorado Resorts in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $65.00 target price on the stock. Stifel Nicolaus set a $58.00 target price on shares of Eldorado Resorts and gave the company a “buy” rating in a report on Wednesday, August 7th. Deutsche Bank reaffirmed a “buy” rating and set a $66.00 price target on shares of Eldorado Resorts in a research report on Wednesday, October 16th. Finally, Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “strong sell” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Eldorado Resorts has a consensus rating of “Buy” and a consensus price target of $53.90.
Shares of NASDAQ:ERI opened at $52.70 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.32 and a debt-to-equity ratio of 3.68. Eldorado Resorts Inc has a 52-week low of $31.86 and a 52-week high of $54.99. The company has a 50 day moving average of $48.40 and a two-hundred day moving average of $45.41. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.60.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). The firm had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $674.72 million. Eldorado Resorts had a net margin of 3.61% and a return on equity of 8.99%. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS. On average, equities analysts anticipate that Eldorado Resorts Inc will post 1.53 earnings per share for the current year.
In other Eldorado Resorts news, Director Roger P. Wagner sold 24,305 shares of Eldorado Resorts stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $53.64, for a total transaction of $1,303,720.20. Following the sale, the director now directly owns 18,445 shares in the company, valued at approximately $989,389.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Lepori sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $51.32, for a total value of $256,600.00. Following the completion of the transaction, the insider now directly owns 17,599 shares in the company, valued at $903,180.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
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.
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