Eldorado Resorts, Inc. (ERI) Insider Thomas Reeg Buys 1,000 Shares
Eldorado Resorts, Inc. (NASDAQ:ERI) insider Thomas Reeg bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $23.20 per share, with a total value of $23,200.00. Following the transaction, the insider now owns 47,200 shares in the company, valued at approximately $1,095,040. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Thomas Reeg also recently made the following trade(s):
- On Friday, June 16th, Thomas Reeg bought 2,500 shares of Eldorado Resorts stock. The stock was purchased at an average price of $20.03 per share, with a total value of $50,075.00.
Shares of Eldorado Resorts, Inc. (NASDAQ:ERI) traded down 0.65% on Wednesday, hitting $23.05. The stock had a trading volume of 417,754 shares. The firm’s 50-day moving average is $20.64 and its 200 day moving average is $19.39. Eldorado Resorts, Inc. has a 1-year low of $10.65 and a 1-year high of $23.50.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.95. Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The business had revenue of $355.20 million during the quarter, compared to analyst estimates of $354.15 million. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. On average, equities analysts anticipate that Eldorado Resorts, Inc. will post ($0.29) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Eldorado Resorts during the second quarter valued at approximately $210,000. 1st Global Advisors Inc. purchased a new position in shares of Eldorado Resorts during the second quarter valued at approximately $775,000. Verition Fund Management LLC purchased a new position in shares of Eldorado Resorts during the second quarter valued at approximately $296,000. Sterling Capital Management LLC purchased a new position in shares of Eldorado Resorts during the second quarter valued at approximately $302,000. Finally, California State Teachers Retirement System increased its position in shares of Eldorado Resorts by 45.0% in the second quarter. California State Teachers Retirement System now owns 81,724 shares of the company’s stock valued at $1,634,000 after buying an additional 25,351 shares in the last quarter. Institutional investors and hedge funds own 65.18% of the company’s stock.
Several research analysts have recently commented on the company. Imperial Capital lifted their target price on Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. BidaskClub lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 target price for the company. Finally, TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.00.
Eldorado Resorts Company Profile
Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.
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