Monarch Partners Asset Management LLC boosted its stake in Eldorado Resorts, Inc. (NASDAQ:ERI) by 328.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 511,045 shares of the company’s stock after buying an additional 391,780 shares during the period. Monarch Partners Asset Management LLC’s holdings in Eldorado Resorts were worth $10,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alambic Investment Management L.P. raised its position in shares of Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock worth $852,000 after buying an additional 400 shares during the period. American International Group Inc. raised its position in shares of Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock worth $334,000 after buying an additional 1,170 shares during the period. Teachers Advisors LLC raised its position in shares of Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock worth $961,000 after buying an additional 1,558 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock worth $300,000 after buying an additional 2,940 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Eldorado Resorts by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 102,698 shares of the company’s stock worth $1,944,000 after buying an additional 4,959 shares during the period. Institutional investors own 65.18% of the company’s stock.

Eldorado Resorts, Inc. (ERI) opened at 22.55 on Friday. The company has a 50-day moving average of $20.13 and a 200-day moving average of $18.98. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $23.00.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.95. The business had revenue of $355.20 million during the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts had a negative return on equity of 11.56% and a negative net margin of 3.38%. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. Equities research analysts expect that Eldorado Resorts, Inc. will post $0.20 earnings per share for the current year.

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A number of brokerages recently commented on ERI. Imperial Capital upped their price target on shares of Eldorado Resorts from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. BidaskClub lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. J P Morgan Chase & Co began coverage on shares of Eldorado Resorts in a research note on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price target on the stock. TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, Zacks Investment Research upgraded shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.33.

In other Eldorado Resorts news, insider Thomas Reeg bought 2,500 shares of Eldorado Resorts stock in a transaction dated Friday, June 16th. The stock was purchased at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the purchase, the insider now directly owns 46,200 shares of the company’s stock, valued at $925,386. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of Eldorado Resorts stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $20.66, for a total transaction of $15,495,000.00. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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