Fmr LLC boosted its position in Eldorado Resorts, Inc. (NASDAQ:ERI) by 258.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,937,100 shares of the company’s stock after buying an additional 1,396,588 shares during the period. Fmr LLC owned 4.11% of Eldorado Resorts worth $36,660,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Eldorado Resorts during the first quarter worth approximately $457,000. AQR Capital Management LLC increased its position in Eldorado Resorts by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 328,935 shares of the company’s stock worth $5,575,000 after buying an additional 8,646 shares during the period. Sei Investments Co. purchased a new position in Eldorado Resorts during the first quarter worth approximately $578,000. RWC Asset Management LLP increased its position in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock worth $15,573,000 after buying an additional 378,024 shares during the period. Finally, Airain ltd purchased a new position in Eldorado Resorts during the first quarter worth approximately $625,000. Institutional investors and hedge funds own 65.18% of the company’s stock.
Eldorado Resorts, Inc. (NASDAQ:ERI) opened at 19.30 on Tuesday. Eldorado Resorts, Inc. has a one year low of $10.65 and a one year high of $21.83. The company has a market cap of $1.46 billion, a PE ratio of 41.15 and a beta of 1.01. The firm has a 50-day moving average of $20.62 and a 200-day moving average of $18.23.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.16. The business had revenue of $200.90 million during the quarter, compared to the consensus estimate of $209.75 million. Eldorado Resorts had a net margin of 2.49% and a return on equity of 7.95%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. On average, analysts predict that Eldorado Resorts, Inc. will post $0.76 EPS for the current year.
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ERI has been the subject of a number of research reports. Imperial Capital reiterated an “outperform” rating and issued a $24.00 price target (up from $21.00) on shares of Eldorado Resorts in a research note on Monday, March 13th. Zacks Investment Research upgraded Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub downgraded Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Eldorado Resorts has a consensus rating of “Buy” and an average target price of $21.50.
In related news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.51, for a total value of $427,920.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Reeg bought 2,500 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average cost of $20.03 per share, for a total transaction of $50,075.00. Following the purchase, the insider now owns 46,200 shares of the company’s stock, valued at $925,386. The disclosure for this purchase can be found here. Insiders own 1.14% 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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