BidaskClub Lowers Empire Resorts (NASDAQ:NYNY) to Sell

BidaskClub downgraded shares of Empire Resorts (NASDAQ:NYNY) from a hold rating to a sell rating in a research note issued to investors on Monday, BidAskClub reports.

Empire Resorts stock opened at $9.69 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. Empire Resorts has a one year low of $6.31 and a one year high of $19.45. The stock’s 50 day moving average is $10.59.

Empire Resorts (NASDAQ:NYNY) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.09) earnings per share for the quarter. Empire Resorts had a negative net margin of 68.57% and a negative return on equity of 74.60%. The business had revenue of $57.61 million for the quarter.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Empire Resorts by 39.6% in the 4th quarter. Bank of New York Mellon Corp now owns 16,073 shares of the company’s stock valued at $163,000 after buying an additional 4,557 shares during the period. Geode Capital Management LLC increased its stake in shares of Empire Resorts by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 55,670 shares of the company’s stock valued at $563,000 after buying an additional 997 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Empire Resorts by 1.1% in the 4th quarter. BlackRock Inc. now owns 289,765 shares of the company’s stock valued at $2,936,000 after buying an additional 3,047 shares during the period. 1.91% of the stock is owned by hedge funds and other institutional investors.

Empire Resorts Company Profile

Empire Resorts, Inc engages in hospitality and gaming businesses in New York. The company owns and operates Monticello Casino and Raceway, a video gaming machine (VGM) and harness horseracing facility in Monticello that operates 1,110 VGMs, including 1,090 video lottery terminals and 20 electronic table game positions; Resorts World Catskills, a casino resort located in Sullivan County, New York; The Alder, a 101-room modern lifestyle hotel; and Amenities, a Casino with 332 guest rooms and suites.

Featured Article: What defines an oversold asset?

Receive News & Ratings for Empire Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire Resorts and related companies with MarketBeat.com's FREE daily email newsletter.