Retirement Systems of Alabama Takes $4.08 Million Position in Eldorado Resorts Inc (ERI)

Retirement Systems of Alabama bought a new position in shares of Eldorado Resorts Inc (NASDAQ:ERI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 83,924 shares of the company’s stock, valued at approximately $4,079,000.

A number of other hedge funds have also made changes to their positions in ERI. Bank of Montreal Can lifted its position in Eldorado Resorts by 282.7% during the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock worth $130,000 after acquiring an additional 2,468 shares during the period. Strs Ohio acquired a new stake in Eldorado Resorts during the 2nd quarter worth about $156,000. FNY Investment Advisers LLC acquired a new stake in Eldorado Resorts during the 2nd quarter worth about $185,000. Amalgamated Bank lifted its position in Eldorado Resorts by 60.9% during the 2nd quarter. Amalgamated Bank now owns 10,064 shares of the company’s stock worth $394,000 after acquiring an additional 3,811 shares during the period. Finally, Gamco Investors INC. ET AL lifted its position in Eldorado Resorts by 64.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,200 shares of the company’s stock worth $399,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 88.48% of the company’s stock.

A number of brokerages have commented on ERI. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Jefferies Financial Group set a $57.00 price target on Eldorado Resorts and gave the stock a “buy” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. set a $60.00 price target on Eldorado Resorts and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Eldorado Resorts currently has a consensus rating of “Buy” and an average target price of $51.56.

Shares of ERI opened at $37.80 on Thursday. Eldorado Resorts Inc has a one year low of $28.15 and a one year high of $50.64. The company has a quick ratio of 2.25, a current ratio of 2.32 and a debt-to-equity ratio of 2.20. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.16 and a beta of 1.47.

In related news, COO Anthony L. Carano acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was acquired at an average price of $45.60 per share, with a total value of $45,600.00. Following the acquisition, the chief operating officer now directly owns 26,979 shares in the company, valued at approximately $1,230,242.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

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About Eldorado Resorts

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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Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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