Empire Resorts Inc (NYNY) Insider Emanuel R. Pearlman Sells 5,500 Shares of Stock

Empire Resorts Inc (NASDAQ:NYNY) insider Emanuel R. Pearlman sold 5,500 shares of Empire Resorts stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $21.94, for a total transaction of $120,670.00. Following the transaction, the insider now directly owns 165,734 shares of the company’s stock, valued at $3,636,203.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NYNY stock traded down $0.40 during mid-day trading on Friday, reaching $20.20. 10,817 shares of the company traded hands, compared to its average volume of 7,303. Empire Resorts Inc has a 12-month low of $19.65 and a 12-month high of $30.98. The company has a quick ratio of 0.14, a current ratio of 0.17 and a debt-to-equity ratio of 1.68.

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Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Empire Resorts during the 3rd quarter valued at about $117,000. Teachers Advisors LLC lifted its holdings in Empire Resorts by 29.5% during the 2nd quarter. Teachers Advisors LLC now owns 5,472 shares of the company’s stock valued at $131,000 after purchasing an additional 1,247 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Empire Resorts during the 4th quarter valued at about $204,000. Deutsche Bank AG lifted its holdings in Empire Resorts by 149.9% during the 4th quarter. Deutsche Bank AG now owns 7,648 shares of the company’s stock valued at $206,000 after purchasing an additional 4,587 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in Empire Resorts during the 4th quarter valued at about $311,000. 1.89% of the stock is owned by hedge funds and other institutional investors.

Separately, BidaskClub downgraded shares of Empire Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 16th.

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About Empire Resorts

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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