Eldorado Resorts (ERI) Shares Down 5.9%
Eldorado Resorts Inc (NASDAQ:ERI) shares were down 5.9% during mid-day trading on Tuesday . The stock traded as low as $32.92 and last traded at $33.52. Approximately 1,620,155 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 1,011,804 shares. The stock had previously closed at $35.63.
Several research analysts have recently issued reports on ERI shares. Jefferies Financial Group set a $57.00 price objective on Eldorado Resorts and gave the company a “buy” rating in a research note on Friday, October 5th. Roth Capital upped their price objective on Eldorado Resorts from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 13th. Deutsche Bank set a $54.00 price objective on Eldorado Resorts and gave the company a “buy” rating in a research note on Saturday, November 10th. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. Finally, Zacks Investment Research raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Eldorado Resorts has a consensus rating of “Buy” and an average target price of $51.38.
The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 3,544.00, a P/E/G ratio of 0.95 and a beta of 1.47. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 2.86.
In related news, COO Anthony L. Carano acquired 1,000 shares of Eldorado Resorts stock in a transaction dated Friday, September 7th. The stock was bought at an average price of $45.60 per share, with a total value of $45,600.00. Following the transaction, the chief operating officer now directly owns 26,979 shares in the company, valued at approximately $1,230,242.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas Reeg acquired 3,000 shares of Eldorado Resorts stock in a transaction dated Tuesday, November 13th. The shares were bought at an average cost of $33.70 per share, with a total value of $101,100.00. Following the transaction, the chief financial officer now owns 125,485 shares in the company, valued at $4,228,844.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 15,000 shares of company stock valued at $532,300. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in ERI. Morgan Stanley lifted its holdings in shares of Eldorado Resorts by 1.8% in the 3rd quarter. Morgan Stanley now owns 314,757 shares of the company’s stock worth $15,297,000 after purchasing an additional 5,673 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Eldorado Resorts by 171.5% in the 3rd quarter. Legal & General Group Plc now owns 63,172 shares of the company’s stock worth $3,070,000 after purchasing an additional 39,907 shares in the last quarter. New Mexico Educational Retirement Board bought a new position in shares of Eldorado Resorts in the 3rd quarter worth $685,000. Nordea Investment Management AB lifted its holdings in shares of Eldorado Resorts by 33.8% in the 3rd quarter. Nordea Investment Management AB now owns 96,568 shares of the company’s stock worth $4,692,000 after purchasing an additional 24,398 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Eldorado Resorts by 2.0% in the 3rd quarter. Teachers Advisors LLC now owns 130,027 shares of the company’s stock worth $6,319,000 after purchasing an additional 2,522 shares in the last quarter. 98.17% of the stock is owned by institutional investors.
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Eldorado Resorts Company Profile (NASDAQ:ERI)
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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