Short Interest in Empire Resorts Inc (NASDAQ:NYNY) Declines By 6.2%

Posted by Grant Hamersma on Dec 2nd, 2019

Empire Resorts Inc (NASDAQ:NYNY) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 182,600 shares, a decline of 6.2% from the October 31st total of 194,700 shares. Based on an average daily volume of 27,500 shares, the short-interest ratio is presently 6.6 days. Currently, 1.0% of the shares of the company are sold short.

A number of equities analysts have commented on the stock. ValuEngine raised shares of Empire Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. BidaskClub cut shares of Empire Resorts from a “sell” rating to a “strong sell” rating in a research note on Friday, October 18th.

NYNY stock opened at $9.75 on Monday. Empire Resorts has a one year low of $8.11 and a one year high of $16.96. The firm has a 50 day simple moving average of $9.74 and a two-hundred day simple moving average of $10.13. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.54 and a quick ratio of 0.53.

In other news, major shareholder Huat Realty Ltd Kien III acquired 5,523,691 shares of Empire Resorts stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $9.74 per share, with a total value of $53,800,750.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Empire Resorts by 3.9% in the 2nd quarter. BlackRock Inc. now owns 280,743 shares of the company’s stock valued at $2,695,000 after purchasing an additional 10,467 shares in the last quarter. Gabelli Funds LLC bought a new stake in Empire Resorts during the 3rd quarter valued at $870,000. Gamco Investors INC. ET AL bought a new stake in Empire Resorts during the 3rd quarter valued at $130,000. Finally, Tower Research Capital LLC TRC raised its holdings in Empire Resorts by 137.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,756 shares of the company’s stock valued at $36,000 after buying an additional 2,171 shares during the last quarter. 31.54% of the stock is owned by institutional investors.

About Empire Resorts

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.