Park West Asset Management LLC Decreases Holdings in Eldorado Resorts Inc (ERI)

Park West Asset Management LLC reduced its stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 0.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,748,210 shares of the company’s stock after selling 5,000 shares during the period. Eldorado Resorts makes up approximately 2.6% of Park West Asset Management LLC’s portfolio, making the stock its 9th largest position. Park West Asset Management LLC’s holdings in Eldorado Resorts were worth $57,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Eldorado Resorts by 1.8% during the 1st quarter. Swiss National Bank now owns 86,444 shares of the company’s stock worth $2,853,000 after buying an additional 1,500 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Eldorado Resorts by 13.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,864 shares of the company’s stock worth $490,000 after buying an additional 1,740 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Eldorado Resorts by 117.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after buying an additional 1,775 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Eldorado Resorts by 1.2% during the 4th quarter. California Public Employees Retirement System now owns 151,521 shares of the company’s stock worth $5,023,000 after buying an additional 1,800 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Eldorado Resorts by 9.1% during the 1st quarter. Allianz Asset Management GmbH now owns 44,733 shares of the company’s stock worth $1,476,000 after buying an additional 3,732 shares during the last quarter. Institutional investors own 87.16% of the company’s stock.

In other news, Director Roger P. Wagner sold 10,000 shares of the company’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $44.30, for a total transaction of $443,000.00. Following the completion of the transaction, the director now owns 130,000 shares of the company’s stock, valued at approximately $5,759,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephanie Lepori sold 5,000 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $43.86, for a total transaction of $219,300.00. Following the transaction, the insider now directly owns 12,387 shares of the company’s stock, valued at approximately $543,293.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,612 shares of company stock valued at $1,805,616. Corporate insiders own 1.50% of the company’s stock.

Shares of Eldorado Resorts opened at $43.70 on Thursday, Marketbeat.com reports. Eldorado Resorts Inc has a twelve month low of $18.80 and a twelve month high of $46.45. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.19 and a quick ratio of 2.12. The stock has a market capitalization of $3.35 billion, a P/E ratio of 4,370.00 and a beta of 1.03.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.13). Eldorado Resorts had a net margin of 5.62% and a return on equity of 2.81%. The company had revenue of $440.19 million for the quarter, compared to analyst estimates of $446.15 million. During the same period in the prior year, the company earned $0.02 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. analysts expect that Eldorado Resorts Inc will post 1.89 EPS for the current year.

ERI has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Eldorado Resorts to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, April 17th. BidaskClub raised shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 17th. Roth Capital boosted their target price on shares of Eldorado Resorts from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. Telsey Advisory Group initiated coverage on shares of Eldorado Resorts in a research note on Tuesday, March 13th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, Nomura initiated coverage on shares of Eldorado Resorts in a research note on Tuesday, May 8th. They issued a “neutral” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.94.

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

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