Metropolitan Life Insurance Co. NY Increases Stake in Eldorado Resorts Inc (ERI)

Metropolitan Life Insurance Co. NY lifted its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 37.9% during the second quarter, HoldingsChannel.com reports. The firm owned 21,255 shares of the company’s stock after buying an additional 5,837 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Eldorado Resorts were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in ERI. Bank of Montreal Can increased its position in Eldorado Resorts by 282.7% in the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after acquiring an additional 2,468 shares during the period. Strs Ohio acquired a new stake in Eldorado Resorts in the 2nd quarter valued at approximately $156,000. FNY Investment Advisers LLC acquired a new stake in Eldorado Resorts in the 2nd quarter valued at approximately $185,000. Amalgamated Bank increased its position in Eldorado Resorts by 60.9% in the 2nd quarter. Amalgamated Bank now owns 10,064 shares of the company’s stock valued at $394,000 after acquiring an additional 3,811 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in Eldorado Resorts by 64.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,200 shares of the company’s stock valued at $399,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 88.32% of the company’s stock.

Shares of NASDAQ ERI opened at $48.35 on Tuesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.32 and a quick ratio of 2.25. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 4,835.00 and a beta of 1.07. Eldorado Resorts Inc has a 1 year low of $23.95 and a 1 year high of $50.00.

Eldorado Resorts (NASDAQ:ERI) last issued its quarterly 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). The firm had revenue of $456.80 million for the quarter, compared to the consensus estimate of $461.57 million. Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.68) earnings per share. equities research analysts forecast that Eldorado Resorts Inc will post 1.84 earnings per share for the current year.

Several analysts recently commented on ERI shares. Telsey Advisory Group raised their target price on Eldorado Resorts from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 31st. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. Finally, Roth Capital raised their target price on Eldorado Resorts from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.94.

In other news, Director James B. Hawkins purchased 4,000 shares of the firm’s 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 purchase, the director now owns 107,832 shares in the company, valued at approximately $4,577,468.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anthony L. Carano purchased 1,000 shares of the firm’s stock in a transaction on Friday, September 7th. The shares were purchased at an average cost of $45.60 per share, with a total value of $45,600.00. Following the completion of the purchase, the chief operating officer now owns 26,979 shares in the company, valued at approximately $1,230,242.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,000 shares of company stock valued at $261,900. 1.50% of the stock is currently owned by corporate insiders.

Eldorado Resorts Company 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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Want to see what other hedge funds are holding ERI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eldorado Resorts Inc (NASDAQ:ERI).

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

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