Insider Buying: Eldorado Resorts Inc (NASDAQ:ERI) Director Purchases 6,000 Shares of Stock

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Eldorado Resorts Inc (NASDAQ:ERI) Director James B. Hawkins bought 6,000 shares of Eldorado Resorts stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $40.35 per share, for a total transaction of $242,100.00. Following the acquisition, the director now owns 119,137 shares in the company, valued at approximately $4,807,177.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of ERI opened at $39.46 on Thursday. Eldorado Resorts Inc has a 52 week low of $31.86 and a 52 week high of $54.99. The company has a market cap of $3.05 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46. The company has a quick ratio of 0.93, a current ratio of 0.98 and a debt-to-equity ratio of 3.78. The firm has a fifty day moving average price of $44.91.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a net margin of 3.90% and a return on equity of 9.57%. The firm had revenue of $637.10 million during the quarter, compared to the consensus estimate of $658.74 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. On average, research analysts anticipate that Eldorado Resorts Inc will post 1.76 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new position in shares of Eldorado Resorts in the 1st quarter valued at $28,000. Dorsey Wright & Associates lifted its stake in shares of Eldorado Resorts by 33.3% in the 2nd quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock valued at $42,000 after acquiring an additional 230 shares during the last quarter. Mascoma Wealth Management LLC bought a new position in shares of Eldorado Resorts in the 1st quarter valued at $47,000. NEXT Financial Group Inc lifted its stake in shares of Eldorado Resorts by 1,824.3% in the 2nd quarter. NEXT Financial Group Inc now owns 1,424 shares of the company’s stock valued at $65,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Eldorado Resorts in the 1st quarter valued at $69,000. Institutional investors own 84.55% of the company’s stock.

A number of equities research analysts have weighed in on ERI shares. Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Deutsche Bank raised their target price on Eldorado Resorts from $56.00 to $74.00 and gave the company a “buy” rating in a report on Monday, July 1st. BidaskClub downgraded Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. ValuEngine raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Finally, Stifel Nicolaus set a $58.00 target price on Eldorado Resorts and gave the company a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Eldorado Resorts presently has an average rating of “Hold” and a consensus price target of $54.79.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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