Millennium Management LLC Purchases 513,742 Shares of Eldorado Resorts Inc (ERI)
Millennium Management LLC raised its position in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 39.2% in the second quarter, HoldingsChannel reports. The firm owned 1,825,582 shares of the company’s stock after buying an additional 513,742 shares during the period. Millennium Management LLC’s holdings in Eldorado Resorts were worth $71,380,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Grove Capital LP purchased a new stake in shares of Eldorado Resorts during the 2nd quarter worth about $4,714,000. Centaurus Financial Inc. bought a new position in shares of Eldorado Resorts in the 2nd quarter valued at approximately $2,646,000. MetLife Investment Advisors LLC raised its stake in shares of Eldorado Resorts by 47.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 30,096 shares of the company’s stock valued at $1,177,000 after acquiring an additional 9,698 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Eldorado Resorts by 37.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 21,255 shares of the company’s stock valued at $831,000 after acquiring an additional 5,837 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Eldorado Resorts by 12.1% in the 2nd quarter. Macquarie Group Ltd. now owns 77,820 shares of the company’s stock valued at $3,043,000 after acquiring an additional 8,376 shares in the last quarter. 88.32% of the stock is owned by institutional investors.
Shares of ERI stock opened at $47.85 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.25 and a debt-to-equity ratio of 2.20. Eldorado Resorts Inc has a twelve month low of $23.95 and a twelve month high of $50.00. The company has a market capitalization of $3.78 billion, a P/E ratio of 34.89 and a beta of 1.07.
ERI has been the topic of a number of recent analyst reports. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday. Telsey Advisory Group raised their price objective on Eldorado Resorts from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 31st. Finally, Roth Capital raised their price objective on Eldorado Resorts from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Eldorado Resorts has an average rating of “Buy” and a consensus price target of $46.94.
In other Eldorado Resorts news, Director James B. Hawkins purchased 4,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were bought at an average cost of $42.45 per share, with a total value of $169,800.00. Following the transaction, the director now directly owns 107,832 shares in the company, valued at approximately $4,577,468.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anthony L. Carano purchased 1,000 shares of the company’s stock in a transaction on Friday, September 7th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the chief operating officer now owns 26,979 shares in the company, valued at $1,230,242.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 6,000 shares of company stock worth $261,900. Company insiders own 1.50% of the company’s stock.
About Eldorado Resorts
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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