Eldorado Resorts (ERI) Stock Price Down 6.2%
Eldorado Resorts Inc (NASDAQ:ERI) shares fell 6.2% during trading on Friday . The stock traded as low as $44.13 and last traded at $44.33. 1,393,269 shares changed hands during trading, an increase of 52% from the average session volume of 916,100 shares. The stock had previously closed at $47.26.
Several research firms have commented on ERI. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. JPMorgan Chase & Co. set a $60.00 price objective on Eldorado Resorts and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Jefferies Financial Group set a $57.00 price target on Eldorado Resorts and gave the company a “buy” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.38.
The firm has a market cap of $3.43 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.38 and a beta of 1.08. 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 related news, Director James B. Hawkins purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average cost of $42.45 per share, for a total transaction of $169,800.00. Following the acquisition, the director now owns 107,832 shares of the company’s stock, valued at approximately $4,577,468.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James B. Hawkins purchased 1,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 108,832 shares in the company, valued at approximately $5,060,688. The disclosure for this purchase can be found here. Insiders bought a total of 6,000 shares of company stock worth $261,900 over the last quarter. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Navellier & Associates Inc grew its stake in Eldorado Resorts by 19.7% during the 2nd quarter. Navellier & Associates Inc now owns 72,820 shares of the company’s stock worth $2,847,000 after buying an additional 11,976 shares during the last quarter. Victory Capital Management Inc. grew its stake in Eldorado Resorts by 19.3% during the 2nd quarter. Victory Capital Management Inc. now owns 810,530 shares of the company’s stock worth $31,691,000 after buying an additional 131,250 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Eldorado Resorts during the 2nd quarter worth $2,409,000. Centaurus Financial Inc. purchased a new position in Eldorado Resorts during the 2nd quarter worth $2,646,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Eldorado Resorts by 19.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 325,625 shares of the company’s stock worth $12,732,000 after acquiring an additional 52,013 shares during the period. Hedge funds and other institutional investors own 88.27% of the company’s stock.
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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