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.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.05). Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. The company had revenue of $456.80 million during the quarter, compared to analysts’ expectations of $461.57 million. During the same quarter in the prior year, the business posted ($0.68) earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. Analysts expect that Eldorado Resorts Inc will post 1.61 EPS for the current year.

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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