Highbridge Capital Management LLC purchased a new position in shares of Eldorado Resorts, Inc. (NASDAQ:ERI) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 16,507 shares of the company’s stock, valued at approximately $312,000.
Other hedge funds also recently made changes to their positions in the company. Alambic Investment Management L.P. boosted its position in shares of Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock valued at $852,000 after buying an additional 400 shares during the period. RWC Asset Management LLP boosted its position in shares of Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock valued at $15,573,000 after buying an additional 378,024 shares during the period. Airain ltd acquired a new position in shares of Eldorado Resorts during the first quarter valued at $625,000. Trexquant Investment LP acquired a new position in shares of Eldorado Resorts during the first quarter valued at $457,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Eldorado Resorts by 50.7% in the first quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock valued at $1,425,000 after buying an additional 25,325 shares during the period. 65.18% of the stock is currently owned by hedge funds and other institutional investors.
Eldorado Resorts, Inc. (ERI) opened at 19.40 on Monday. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $21.83. The company has a market cap of $1.47 billion, a PE ratio of 41.36 and a beta of 1.01. The stock has a 50 day moving average of $20.62 and a 200 day moving average of $18.23.
Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 4th. The company reported $0.04 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 quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Equities research analysts predict that Eldorado Resorts, Inc. will post $0.76 EPS for the current fiscal year.
Several equities analysts have recently weighed in on ERI shares. Imperial Capital reiterated an “outperform” rating and issued a $24.00 price objective (up previously from $21.00) on shares of Eldorado Resorts in a research note on Monday, March 13th. Zacks Investment Research upgraded shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $21.50.
In related news, insider Thomas Reeg acquired 2,500 shares of the stock in a transaction on Friday, June 16th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the transaction, the insider now owns 46,200 shares in the company, valued at approximately $925,386. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $20.66, for a total value of $15,495,000.00. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.
Eldorado Resorts Company Profile
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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