Pacific Grove Capital LP purchased a new stake in Eldorado Resorts, Inc. (NASDAQ:ERI) during the first quarter, Holdings Channel reports. The institutional investor purchased 140,749 shares of the company’s stock, valued at approximately $2,664,000. Pacific Grove Capital LP owned approximately 0.30% of Eldorado Resorts at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of ERI. Oppenheimer Asset Management Inc. acquired a new position in Eldorado Resorts during the first quarter valued at $140,000. PNC Financial Services Group Inc. increased its position in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock valued at $300,000 after buying an additional 2,940 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Eldorado Resorts during the first quarter valued at $312,000. American International Group Inc. increased its position in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock valued at $334,000 after buying an additional 1,170 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in Eldorado Resorts during the fourth quarter valued at $364,000. 65.18% of the stock is currently owned by hedge funds and other institutional investors.
Eldorado Resorts, Inc. (NASDAQ:ERI) traded down 0.98% during trading on Friday, hitting $20.25. 827,391 shares of the stock traded hands. Eldorado Resorts, Inc. has a 52-week low of $10.65 and a 52-week high of $21.83. The company’s 50 day moving average price is $20.46 and its 200-day moving average price is $17.86. The stock has a market cap of $1.53 billion, a P/E ratio of 43.18 and a beta of 1.00.
Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.16. The firm had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $209.75 million. Eldorado Resorts had a net margin of 2.49% and a return on equity of 7.95%. Eldorado Resorts’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. Equities research analysts forecast that Eldorado Resorts, Inc. will post $0.76 earnings per share for the current fiscal year.
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ERI has been the topic of several research reports. TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Zacks Investment Research raised shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. Finally, Imperial Capital reissued an “outperform” rating and issued a $24.00 price target (up from $21.00) on shares of Eldorado Resorts in a research note on Monday, March 13th.
In other Eldorado Resorts news, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $20.66, for a total value of $15,495,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by corporate insiders.
About Eldorado Resorts
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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