Eldorado Resorts Inc (ERI) Stake Increased by Frontier Capital Management Co. LLC

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Frontier Capital Management Co. LLC grew its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 308.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,569,788 shares of the company’s stock after acquiring an additional 1,941,282 shares during the quarter. Eldorado Resorts comprises about 0.8% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 28th biggest holding. Frontier Capital Management Co. LLC owned approximately 3.32% of Eldorado Resorts worth $124,509,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Navellier & Associates Inc lifted its position in shares of Eldorado Resorts by 19.7% during the 2nd quarter. Navellier & Associates Inc now owns 72,820 shares of the company’s stock valued at $2,847,000 after acquiring an additional 11,976 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Eldorado Resorts during the 2nd quarter worth $2,409,000. Victory Capital Management Inc. lifted its position in shares of Eldorado Resorts by 19.3% during the 2nd quarter. Victory Capital Management Inc. now owns 810,530 shares of the company’s stock worth $31,691,000 after buying an additional 131,250 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Eldorado Resorts during the 2nd quarter worth $2,646,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Eldorado Resorts by 19.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 325,625 shares of the company’s stock worth $12,732,000 after buying an additional 52,013 shares during the last quarter. Hedge funds and other institutional investors own 88.18% of the company’s stock.

In other news, COO Anthony L. Carano bought 1,000 shares of the stock in a transaction on Friday, September 7th. The stock was acquired at an average price of $45.60 per share, with a total value of $45,600.00. Following the acquisition, the chief operating officer now directly owns 26,979 shares in the company, valued at $1,230,242.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James B. Hawkins bought 4,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was purchased at an average cost of $42.45 per share, with a total value of $169,800.00. Following the acquisition, the director now owns 107,832 shares in the company, valued at $4,577,468.40. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,000 shares of company stock valued at $261,900. Insiders own 1.50% of the company’s stock.

Shares of ERI stock traded up $0.25 on Tuesday, hitting $33.07. 12,148 shares of the company’s stock were exchanged, compared to its average volume of 1,450,264. The company has a quick ratio of 2.25, a current ratio of 2.32 and a debt-to-equity ratio of 2.20. Eldorado Resorts Inc has a 12 month low of $24.95 and a 12 month high of $50.64. The company has a market cap of $2.82 billion, a P/E ratio of 3,302.00, a P/E/G ratio of 1.13 and a beta of 1.08.

Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The firm had revenue of $456.80 million during the quarter, compared to analyst estimates of $461.57 million. During the same period in the previous year, the company earned ($0.68) EPS. Eldorado Resorts’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities research analysts anticipate that Eldorado Resorts Inc will post 1.61 earnings per share for the current fiscal year.

ERI has been the subject of several recent analyst reports. Jefferies Financial Group set a $57.00 price objective on Eldorado Resorts and gave the stock a “buy” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. set a $60.00 price objective on Eldorado Resorts and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $49.38.

Eldorado Resorts Profile

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.

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Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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