Balyasny Asset Management LLC Cuts Stake in Eldorado Resorts, Inc. (ERI)
Balyasny Asset Management LLC lessened its stake in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) by 16.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 200,174 shares of the company’s stock after selling 40,100 shares during the quarter. Balyasny Asset Management LLC’s holdings in Eldorado Resorts were worth $4,003,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in shares of Eldorado Resorts by 58,900.0% during the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after buying an additional 5,890 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eldorado Resorts during the 1st quarter worth about $140,000. BNP Paribas Arbitrage SA lifted its stake in shares of Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after buying an additional 7,640 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Eldorado Resorts during the 2nd quarter worth about $174,000. Institutional investors own 69.44% of the company’s stock.
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A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 14th. Deutsche Bank AG began coverage on shares of Eldorado Resorts in a research report on Monday, September 25th. They set a “buy” rating and a $32.00 price target on the stock. Zacks Investment Research lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co began coverage on shares of Eldorado Resorts in a research report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $27.33.
Eldorado Resorts, Inc. (NASDAQ ERI) opened at 26.10 on Tuesday. The company’s 50-day moving average is $24.54 and its 200-day moving average is $21.23. Eldorado Resorts, Inc. has a 52-week low of $10.65 and a 52-week high of $27.15.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.95). The business had revenue of $355.20 million for the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The firm’s revenue was up 53.6% compared to the same quarter last year. Analysts predict that Eldorado Resorts, Inc. will post ($0.29) EPS for the current fiscal year.
About Eldorado Resorts
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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