Zacks Investment Research Upgrades Full House Resorts (NASDAQ:FLL) to Hold

Zacks Investment Research upgraded shares of Full House Resorts (NASDAQ:FLL) from a strong sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Full House develops and manages gaming facilities. The Company has a management agreement with the Nottawaseppi Huron Band of Potawatomi Indians for the development and management of a first-class casino/resort with gaming devices in the Battle Creek, Michigan area, which is currently in the pre-development stage. Full House also manages Midway Slots and Simulcast at the Delaware State Fairgrounds in Harrington, Delaware, along with the owner of the adjacent racetrack. “

Full House Resorts stock opened at $1.87 on Wednesday. The firm’s fifty day moving average is $1.99. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.06 and a current ratio of 1.13. The stock has a market cap of $50.14 million, a PE ratio of -14.38 and a beta of 0.49. Full House Resorts has a fifty-two week low of $1.60 and a fifty-two week high of $3.41.

Full House Resorts (NASDAQ:FLL) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.08). The company had revenue of $40.49 million for the quarter, compared to analysts’ expectations of $41.44 million. Full House Resorts had a negative net margin of 1.02% and a negative return on equity of 2.87%. On average, equities research analysts forecast that Full House Resorts will post -0.03 EPS for the current year.

In other Full House Resorts news, Director Craig W. Thomas bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $2.22 per share, for a total transaction of $44,400.00. Following the transaction, the director now directly owns 449,651 shares in the company, valued at $998,225.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.10% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. RMB Capital Management LLC bought a new position in Full House Resorts in the 4th quarter valued at $606,000. Penn Capital Management Co. Inc. raised its stake in shares of Full House Resorts by 4.5% in the 4th quarter. Penn Capital Management Co. Inc. now owns 112,870 shares of the company’s stock valued at $228,000 after purchasing an additional 4,823 shares during the period. Ingalls & Snyder LLC acquired a new stake in shares of Full House Resorts in the 1st quarter valued at about $55,000. Gabelli Funds LLC raised its stake in shares of Full House Resorts by 3.2% in the 1st quarter. Gabelli Funds LLC now owns 739,458 shares of the company’s stock valued at $1,494,000 after purchasing an additional 23,030 shares during the period. Finally, Sand Hill Global Advisors LLC acquired a new stake in shares of Full House Resorts in the 1st quarter valued at about $32,000. Institutional investors own 45.04% of the company’s stock.

About Full House Resorts

Full House Resorts, Inc owns, develops, operates, manages, leases, and/or invests in casinos, and related hospitality and entertainment facilities in the United States. The company owns and operates the Silver Slipper Casino and Hotel in Hancock County, Mississippi, which has 920 slot machines and 26 table games, a surface parking lot, approximately 800-space parking garage, and 129 hotel rooms; a fine-dining restaurant, a buffet, and a quick-service restaurant, as well as oyster, casino, beachfront bars; and 37-space beachfront RV park.

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