State Board of Administration of Florida Retirement System reduced its stake in Eldorado Resorts, Inc. (NASDAQ:ERI) by 11.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,720 shares of the company’s stock after selling 4,064 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Eldorado Resorts worth $581,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. FMR LLC acquired a new position in shares of Eldorado Resorts during the fourth quarter valued at $9,162,000. Allianz Asset Management AG boosted its position in shares of Eldorado Resorts by 45.9% in the fourth quarter. Allianz Asset Management AG now owns 439,990 shares of the company’s stock valued at $7,458,000 after buying an additional 138,389 shares in the last quarter. Putnam Investments LLC boosted its position in shares of Eldorado Resorts by 16.2% in the fourth quarter. Putnam Investments LLC now owns 433,670 shares of the company’s stock valued at $7,351,000 after buying an additional 60,410 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Eldorado Resorts during the fourth quarter valued at $6,671,000. Finally, Two Sigma Investments LP boosted its position in shares of Eldorado Resorts by 20.2% in the fourth quarter. Two Sigma Investments LP now owns 382,400 shares of the company’s stock valued at $6,482,000 after buying an additional 64,238 shares in the last quarter. Institutional investors own 65.18% of the company’s stock.
Eldorado Resorts, Inc. (NASDAQ:ERI) traded up 0.52% on Friday, hitting $19.30. 328,576 shares of the company were exchanged. The firm’s 50 day moving average is $20.62 and its 200 day moving average is $18.23. The company has a market capitalization of $1.46 billion, a P/E ratio of 41.15 and a beta of 1.01. Eldorado Resorts, Inc. has a 52 week low of $10.65 and a 52 week high of $21.83.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.16. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The business had revenue of $200.90 million during the quarter, compared to analyst estimates of $209.75 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Eldorado Resorts, Inc. will post $0.67 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on ERI. Imperial Capital lifted their price target on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. BidaskClub cut shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, 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. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.50.
In related news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.51, for a total transaction of $427,920.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Reeg purchased 2,500 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average cost of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the acquisition, the insider now directly owns 46,200 shares of the company’s stock, valued at approximately $925,386. The disclosure for this purchase can be found here. Corporate insiders own 1.18% of the company’s stock.
About Eldorado Resorts
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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