Empire Resorts (NYNY) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Empire Resorts (NASDAQ:NYNY) from a sell rating to a hold rating in a report published on Wednesday.

Empire Resorts opened at $23.30 on Wednesday, Marketbeat.com reports. Empire Resorts has a fifty-two week low of $23.50 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.42 and a quick ratio of 0.41.

Empire Resorts (NASDAQ:NYNY) last posted its quarterly earnings results on Friday, March 16th. The company reported ($0.39) earnings per share for the quarter. Empire Resorts had a negative return on equity of 21.14% and a negative net margin of 65.96%. The firm had revenue of $15.18 million for the quarter.

In related news, insider Emanuel R. Pearlman sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was 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 approximately $3,636,203.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Empire Resorts by 1.1% in the fourth quarter. BlackRock Inc. now owns 259,097 shares of the company’s stock worth $6,995,000 after purchasing an additional 2,825 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Empire Resorts by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 47,594 shares of the company’s stock worth $1,285,000 after purchasing an additional 5,093 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Empire Resorts in the fourth quarter worth approximately $311,000. Deutsche Bank AG raised its stake in shares of Empire Resorts by 149.9% in the fourth quarter. Deutsche Bank AG now owns 7,648 shares of the company’s stock worth $206,000 after purchasing an additional 4,587 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Empire Resorts in the fourth quarter worth approximately $204,000. 1.80% of the stock is owned by hedge funds and other institutional investors.

Empire Resorts Company Profile

Empire Resorts, Inc engages in hospitality and gaming businesses in New York. The company owns and operates Monticello Casino and Raceway, a video gaming machine (VGM) and harness horseracing facility in Monticello that operates 1,110 VGMs, including 1,070 video lottery terminals and 40 electronic table game positions, as well as Resorts World Catskills, a casino resort located in Sullivan County, New York.

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