Strs Ohio Invests $156,000 in Eldorado Resorts Inc (ERI)
Strs Ohio acquired a new stake in Eldorado Resorts Inc (NASDAQ:ERI) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,000 shares of the company’s stock, valued at approximately $156,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Eldorado Resorts by 19.3% in the 2nd quarter. Victory Capital Management Inc. now owns 810,530 shares of the company’s stock valued at $31,691,000 after buying an additional 131,250 shares during the period. Royal Bank of Canada boosted its stake in shares of Eldorado Resorts by 352.3% in the 1st quarter. Royal Bank of Canada now owns 14,587 shares of the company’s stock valued at $481,000 after buying an additional 11,362 shares during the period. Navellier & Associates Inc boosted its stake in shares of Eldorado Resorts by 19.7% in the 2nd quarter. Navellier & Associates Inc now owns 72,820 shares of the company’s stock valued at $2,847,000 after buying an additional 11,976 shares during the period. RWC Asset Management LLP boosted its stake in shares of Eldorado Resorts by 7.5% in the 2nd quarter. RWC Asset Management LLP now owns 712,945 shares of the company’s stock valued at $27,876,000 after buying an additional 50,000 shares during the period. Finally, Bluestein R H & Co. purchased a new position in shares of Eldorado Resorts in the 1st quarter valued at about $254,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
ERI stock opened at $48.85 on Friday. The company has a market cap of $3.71 billion, a P/E ratio of 34.25 and a beta of 1.08. Eldorado Resorts Inc has a fifty-two week low of $23.95 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.32 and a quick ratio of 2.25.
In other news, Director James B. Hawkins acquired 1,000 shares of Eldorado Resorts stock in a transaction on Wednesday, September 5th. The stock was bought at an average price of $46.50 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the director now owns 108,832 shares in the company, valued at $5,060,688. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James B. Hawkins acquired 4,000 shares of Eldorado Resorts stock in a transaction on Tuesday, August 7th. The stock was purchased at an average price of $42.45 per share, with a total value of $169,800.00. Following the purchase, the director now owns 107,832 shares of the company’s stock, valued at approximately $4,577,468.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,000 shares of company stock valued at $261,900. 1.50% of the stock is owned by company insiders.
ERI has been the subject of several recent analyst reports. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Roth Capital boosted their target price on Eldorado Resorts from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Finally, Telsey Advisory Group boosted their target price on Eldorado Resorts from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 31st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.94.
About Eldorado Resorts
Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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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