Monarch Partners Asset Management LLC Has $16.43 Million Stake in Eldorado Resorts, Inc. (ERI)
Monarch Partners Asset Management LLC lifted its holdings in Eldorado Resorts, Inc. (NASDAQ:ERI) by 25.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 640,385 shares of the company’s stock after acquiring an additional 129,340 shares during the period. Eldorado Resorts makes up 1.6% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 10th biggest position. Monarch Partners Asset Management LLC’s holdings in Eldorado Resorts were worth $16,426,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ERI. Citigroup Inc. increased its position in shares of Eldorado Resorts by 58,900.0% in the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after acquiring an additional 5,890 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Eldorado Resorts during the 1st quarter valued at $140,000. BNP Paribas Arbitrage SA grew its holdings in Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock valued at $155,000 after purchasing an additional 7,640 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Eldorado Resorts during the 2nd quarter valued at $174,000. 72.13% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on ERI shares. BidaskClub lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target for the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $22.00 price target on shares of Eldorado Resorts in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Deutsche Bank AG started coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They set a “buy” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.75.
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Eldorado Resorts, Inc. (NASDAQ ERI) traded up $0.45 on Monday, reaching $28.45. 235,876 shares of the company were exchanged, compared to its average volume of 946,085. Eldorado Resorts, Inc. has a 1-year low of $10.65 and a 1-year high of $30.00. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.68.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 3.40%. The business had revenue of $444.87 million during the quarter, compared to analyst estimates of $448.30 million. During the same period last year, the business earned $0.20 EPS. The business’s revenue was down 1.0% on a year-over-year basis. equities analysts forecast that Eldorado Resorts, Inc. will post -0.29 earnings per share for the current year.
Eldorado Resorts 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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