Wells Fargo & Company MN Has $2.53 Million Stake in Eldorado Resorts Inc (ERI)

Wells Fargo & Company MN raised its holdings in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,747 shares of the company’s stock after acquiring an additional 12,877 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Eldorado Resorts worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ERI. Schwab Charles Investment Management Inc. boosted its stake in shares of Eldorado Resorts by 75.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 180,670 shares of the company’s stock worth $3,614,000 after acquiring an additional 77,972 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Eldorado Resorts by 56.4% during the 2nd quarter. Rhumbline Advisers now owns 48,712 shares of the company’s stock worth $974,000 after acquiring an additional 17,562 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Eldorado Resorts by 33.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,892 shares of the company’s stock worth $10,458,000 after acquiring an additional 129,711 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Eldorado Resorts by 72.1% during the 2nd quarter. Legal & General Group Plc now owns 11,600 shares of the company’s stock worth $230,000 after acquiring an additional 4,861 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after acquiring an additional 7,640 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

Eldorado Resorts Inc (ERI) opened at $32.40 on Friday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78. Eldorado Resorts Inc has a one year low of $14.90 and a one year high of $34.03.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The company had revenue of $444.87 million for the quarter, compared to analysts’ expectations of $448.30 million. During the same quarter in the previous year, the company earned $0.20 EPS. Eldorado Resorts’s revenue for the quarter was down 1.0% on a year-over-year basis. research analysts forecast that Eldorado Resorts Inc will post -0.08 earnings per share for the current year.

ERI has been the topic of a number of analyst reports. BidaskClub cut shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. lifted their target price on shares of Eldorado Resorts from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, November 15th. SunTrust Banks restated a “buy” rating and set a $22.00 target price on shares of Eldorado Resorts in a research note on Tuesday, October 24th. Finally, TheStreet upgraded shares of Eldorado Resorts from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Eldorado Resorts currently has an average rating of “Buy” and an average price target of $30.00.

In related news, Director David P. Tomick purchased 1,700 shares of Eldorado Resorts stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $28.70 per share, for a total transaction of $48,790.00. Following the acquisition, the director now owns 10,400 shares in the company, valued at approximately $298,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bonnie Biumi sold 13,079 shares of Eldorado Resorts stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

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Eldorado Resorts Company Profile

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.

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

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