Strategic Wealth Partners Ltd. Buys 500 Shares of Eldorado Resorts Inc (ERI)

Strategic Wealth Partners Ltd. raised its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 132.6% in the third quarter, Holdings Channel reports. The institutional investor owned 877 shares of the company’s stock after acquiring an additional 500 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Eldorado Resorts were worth $43,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Eldorado Resorts by 70.8% during the 3rd quarter. BlackRock Inc. now owns 7,239,083 shares of the company’s stock valued at $351,819,000 after acquiring an additional 3,001,643 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of Eldorado Resorts by 308.9% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,569,788 shares of the company’s stock valued at $124,509,000 after acquiring an additional 1,941,282 shares during the period. Millennium Management LLC grew its position in shares of Eldorado Resorts by 39.2% during the 2nd quarter. Millennium Management LLC now owns 1,825,582 shares of the company’s stock valued at $71,380,000 after acquiring an additional 513,742 shares during the period. FMR LLC grew its position in shares of Eldorado Resorts by 4.8% during the 2nd quarter. FMR LLC now owns 10,419,822 shares of the company’s stock valued at $407,415,000 after acquiring an additional 475,601 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Eldorado Resorts by 945.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 386,338 shares of the company’s stock valued at $18,776,000 after acquiring an additional 349,384 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

ERI has been the topic of a number of analyst reports. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. JPMorgan Chase & Co. set a $60.00 target price on Eldorado Resorts and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Jefferies Financial Group set a $57.00 target price on Eldorado Resorts and gave the company a “buy” rating in a research report on Friday, October 5th. ValuEngine upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Deutsche Bank set a $54.00 target price on Eldorado Resorts and gave the company a “buy” rating in a research report on Saturday, November 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $51.38.

In other news, Director Michael E. Pegram acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average cost of $33.91 per share, for a total transaction of $339,100.00. Following the acquisition, the director now owns 100,529 shares in the company, valued at approximately $3,408,938.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Reeg acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average price of $33.70 per share, for a total transaction of $101,100.00. Following the completion of the acquisition, the chief financial officer now owns 125,485 shares in the company, valued at approximately $4,228,844.50. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,700 shares of company stock worth $470,881. 1.50% of the stock is currently owned by insiders.

ERI stock opened at $38.37 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.57 and a current ratio of 1.63. Eldorado Resorts Inc has a 12-month low of $29.16 and a 12-month high of $50.64. The stock has a market capitalization of $3.12 billion, a P/E ratio of 3,837.00, a PEG ratio of 1.08 and a beta of 1.51.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). Eldorado Resorts had a return on equity of 12.38% and a net margin of 10.21%. The firm had revenue of $487.25 million during the quarter, compared to analyst estimates of $494.60 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that Eldorado Resorts Inc will post 1.87 earnings per share for the current year.

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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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