Insider Selling: Eldorado Resorts (ERI) Insider Sells $859,000.00 in Stock

Eldorado Resorts (NASDAQ:ERI) insider Edmund L. Quatmann, Jr. sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $42.95, for a total transaction of $859,000.00. Following the transaction, the insider now owns 132,917 shares in the company, valued at $5,708,785.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eldorado Resorts opened at $44.40 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 2.28, a quick ratio of 2.12 and a current ratio of 2.19. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 193.04 and a beta of 1.01. Eldorado Resorts has a twelve month low of $18.80 and a twelve month high of $44.70.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 3rd. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.13). The company had revenue of $440.19 million during the quarter, compared to analysts’ expectations of $446.15 million. Eldorado Resorts had a net margin of 5.62% and a return on equity of 2.81%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. research analysts anticipate that Eldorado Resorts will post 1.9 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERI. Goldman Sachs Group Inc. boosted its stake in Eldorado Resorts by 1,470.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,315,430 shares of the company’s stock valued at $43,606,000 after acquiring an additional 1,231,643 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Eldorado Resorts by 651.7% in the first quarter. Wells Fargo & Company MN now owns 1,332,982 shares of the company’s stock valued at $43,989,000 after purchasing an additional 1,155,658 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Eldorado Resorts in the fourth quarter valued at approximately $23,360,000. Hood River Capital Management LLC raised its position in shares of Eldorado Resorts by 53.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,529,651 shares of the company’s stock valued at $50,708,000 after purchasing an additional 533,078 shares during the period. Finally, Stormborn Capital Management LLC bought a new stake in shares of Eldorado Resorts in the fourth quarter valued at approximately $10,774,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.

Several research firms recently weighed in on ERI. BidaskClub upgraded shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a report on Thursday. Nomura began coverage on shares of Eldorado Resorts in a report on Tuesday, May 8th. They set a “neutral” rating and a $47.00 price target on the stock. SunTrust Banks boosted their price target on shares of Eldorado Resorts to $49.00 and gave the stock a “buy” rating in a report on Friday, May 4th. JPMorgan Chase set a $55.00 target price on shares of Eldorado Resorts and gave the company a “buy” rating in a research note on Friday, May 4th. Finally, ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.16.

About Eldorado Resorts

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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.

Insider Buying and Selling by Quarter for Eldorado Resorts (NASDAQ:ERI)

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