First Mercantile Trust Co. Grows Position in Eldorado Resorts Inc (ERI)

First Mercantile Trust Co. increased its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,523 shares of the company’s stock after buying an additional 684 shares during the quarter. First Mercantile Trust Co.’s holdings in Eldorado Resorts were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Retirement Systems of Alabama boosted its holdings in Eldorado Resorts by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 84,258 shares of the company’s stock valued at $3,051,000 after purchasing an additional 334 shares in the last quarter. Sapphire Star Partners LP boosted its holdings in Eldorado Resorts by 2.7% in the 4th quarter. Sapphire Star Partners LP now owns 12,597 shares of the company’s stock valued at $456,000 after purchasing an additional 335 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Eldorado Resorts by 7.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,541 shares of the company’s stock valued at $201,000 after purchasing an additional 365 shares in the last quarter. Arizona State Retirement System boosted its holdings in Eldorado Resorts by 1.2% in the 4th quarter. Arizona State Retirement System now owns 46,659 shares of the company’s stock valued at $1,690,000 after purchasing an additional 531 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Eldorado Resorts by 0.8% in the 4th quarter. Comerica Bank now owns 68,739 shares of the company’s stock valued at $3,032,000 after purchasing an additional 549 shares in the last quarter. 88.13% of the stock is currently owned by institutional investors.

ERI stock opened at $46.44 on Wednesday. Eldorado Resorts Inc has a 12 month low of $31.86 and a 12 month high of $51.67. The company has a market cap of $3.57 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.73. The company has a quick ratio of 0.93, a current ratio of 0.98 and a debt-to-equity ratio of 3.78.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 2nd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.39 by $0.10. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The business had revenue of $627.75 million during the quarter, compared to analyst estimates of $660.92 million. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts predict that Eldorado Resorts Inc will post 2.34 earnings per share for the current fiscal year.

ERI has been the topic of a number of analyst reports. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 23rd. Roth Capital reiterated a “buy” rating on shares of Eldorado Resorts in a report on Thursday, February 28th. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BidaskClub lowered shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Finally, Deutsche Bank reissued a “buy” rating and set a $54.00 target price on shares of Eldorado Resorts in a research note on Wednesday, January 23rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.43.

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About Eldorado Resorts

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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