Empire Resorts (NASDAQ:NYNY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.
Empire Resorts (NASDAQ NYNY) opened at $24.15 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.85. Empire Resorts has a 1-year low of $20.45 and a 1-year high of $30.98.
Several hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG increased its holdings in shares of Empire Resorts by 149.9% during the 4th quarter. Deutsche Bank AG now owns 7,648 shares of the company’s stock worth $206,000 after acquiring an additional 4,587 shares during the last quarter. Geode Capital Management LLC boosted its stake in Empire Resorts by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 47,594 shares of the company’s stock valued at $1,285,000 after purchasing an additional 5,093 shares during the period. BlackRock Inc. boosted its stake in Empire Resorts by 1.1% in the 4th quarter. BlackRock Inc. now owns 259,097 shares of the company’s stock valued at $6,995,000 after purchasing an additional 2,825 shares during the period. Schwab Charles Investment Management Inc. bought a new stake in Empire Resorts in the 4th quarter valued at $311,000. Finally, NEXT Financial Group Inc bought a new stake in Empire Resorts in the 3rd quarter valued at $379,000. 1.80% of the stock is currently owned by institutional investors and hedge funds.
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Empire Resorts, Inc is a holding company for various subsidiaries engaged in the hospitality and gaming industries. As of December 31, 2016, the Company, through Monticello Raceway Management, Inc (MRMI), owned and operated Monticello Casino and Raceway, a 45,000 square foot video gaming machine (VGM) and harness horseracing facility located in Monticello, New York, approximately 90 miles northwest of New York City.
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