BidaskClub Downgrades Empire Resorts (NYNY) to Strong Sell
Empire Resorts (NASDAQ:NYNY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.
Empire Resorts (NYNY) traded up $0.30 on Friday, hitting $23.10. The stock had a trading volume of 2,058 shares, compared to its average volume of 8,954. The stock has a market capitalization of $710.85, a P/E ratio of -20.44 and a beta of 1.87. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.14 and a current ratio of 0.14. Empire Resorts has a 1 year low of $20.45 and a 1 year high of $30.98.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Empire Resorts in the third quarter worth about $117,000. Teachers Advisors LLC increased its holdings in shares of Empire Resorts by 29.5% in the second quarter. Teachers Advisors LLC now owns 5,472 shares of the company’s stock worth $131,000 after buying an additional 1,247 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Empire Resorts in the fourth quarter worth about $204,000. Deutsche Bank AG increased its holdings in shares of Empire Resorts by 149.9% in the fourth quarter. Deutsche Bank AG now owns 7,648 shares of the company’s stock worth $206,000 after buying an additional 4,587 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Empire Resorts by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 12,445 shares of the company’s stock worth $298,000 after buying an additional 1,519 shares during the period. Hedge funds and other institutional investors own 1.82% of the company’s stock.
About Empire Resorts
Empire Resorts, Inc is a holding company for various subsidiaries engaged in the hospitality and gaming industries. As of December 31, 2016, the Company, through Monticello Raceway Management, Inc (MRMI), owned and operated Monticello Casino and Raceway, a 45,000 square foot video gaming machine (VGM) and harness horseracing facility located in Monticello, New York, approximately 90 miles northwest of New York City.
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